29.09 -1.10 (-3.64%)
Pre-Market: 4:02AM EDT
|Bid||28.70 x 800|
|Ask||29.14 x 4000|
|Day's Range||29.99 - 30.22|
|52 Week Range||27.27 - 34.45|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.49%|
Italy ETFs strengthened Monday, with Italian markets posting their best daily gains in over a year, as previous anti-establishment concerns diminish. The iShares MSCI Italy Capped ETF (EWI) rose 3.7% on Monday. Italian markets jumped after Finance Minister Giovanni Tria assured that the country will remain in the euro currency bloc, Bloomberg reports.
Investors should keep a close eye on the ETFs that are especially volatile this week with key events like Fed and ECB meeting as well as US-North Korea summit.
Matteo Salvini, Italy's deputy prime minister, says the "free ride is over" for migrants. Mass migration and austerity policies from Brussels have led to the rise of the 5Star Movement and National League. George Soros thinks the Russian's did it. They made Italy go nationalist, anti-migrant, anti-Brussels.
Italy’s growing political crisis spread to financial markets, prompting a backlash from investors funding its highly indebted economy.
The coalition government formed by the antiestablishment 5-Star Movement and the hard-right League party won a confidence vote, as expected, in the upper chamber of Italy's parliament on Tuesday, news ...
Italy’s stocks have gone on sale, thanks to the country’s latest political drama, but they haven’t necessarily become a great bargain. A big issue for bears is that while Italy’s FTSE MIB equity benchmark (MTAA:FTSEMIB.MI)has dived over the past month, the drop followed a year-and-a-half-long rally that had delivered a gain of more than 40%. “Risk-reward going forward is weaker, given the strong run and the rising political overhang,” say JPMorgan strategists, led by Mislav Matejka, in a recent note.
Global markets are again under pressure on Thursday amid ongoing uncertainty about the future of the eurozone amid the rise of anti-establishment parties in Italy and Spain.
The sharp selloff in Italian sovereign debt earlier this week caught out funds from Field Street to Janus Henderson. As the prospect for an Italian coalition government fell apart over the weekend, the yield on the country's two-year notes surged more than 1.5 percentage points, to 2.4%. As Italy's debt dropped, the loss at Field Street’s Global Investments fund widened to 50%, these people said.
Portugal, Italy, Greece and Spain - the so-called PIGS group - country-specific exchange traded funds were among the best performers Wednesday as these peripheral Eurozone equity markets rebounded on diminished fears that a breakdown in the euro currency bloc would happen any time soon. On Wednesday, the Global X FTSE Portugal 20 ETF (PGAL) surged 4.2%, iShares MSCI Italy Capped ETF (EWI) jumped 4.3%, Global X MSCI Greece ETF (GREK) increased 4.2% and iShares MSCI Spain Capped ETF (EWP) advanced 2.8%. Meanwhile, the Vanguard FTSE Europe ETF (VGK) , the largest Europe-related ETF, gained 1.9%.
The eurozone’s third-largest nation has plunged into deep political and economic crisis, which has become a concern for the European Union (EU) as well as for the global markets. In a nutshell, political chaos and failure to form a stable coalition government has caused the problems in Italy. Despite several weeks of prolonged discussions and negotiation, an agreement between a euro-skeptic populist group and pro-EU establishment lawmakers have failed to materialize, leaving the country in a deep political and economic crisis.
The iShares MSCI Italy ETF (NYSE: EWI) plunged Tuesday. EWI, the largest dedicated Italy exchange traded fund listed in the U.S., tumbled 5.82 percent on more than triple the average daily volume. During the darkest days of the European financial crisis, back when it appeared Greece would leave the eurozone, market participants frequently wondered what shoe would be next to drop.
Italian markets and country-specific exchange traded funds plunged Tuesday as the prospect of new elections fueled speculation of the potential rise of an anti-euro zone faction. On Tuesday, the iShares MSCI Italy Capped ETF (EWI) declined 6.3%% and Franklin FTSE Italy ETF (FLIY) decreased 5.8%. Fueling the anxiety in the Italian markets, six-month Italian debt, which sold for a negative yield as recently as April, now drew a yield of 1.213% on lackluster demand from investors while two-year bonds, which came with a negative yield as recently as two weeks ago, traded at a 2.69% yield, the Wall Street Journal reports.
U.S. stocks were hit hard Tuesday, partly due to political turmoil in Italy as the country's President Sergio Mattarella rejected an economic ministry nominee who holds a "euroskeptic" stance. ...
Italy is burning and Nero is not fiddling. Italian President Sergio Mattarella certainly pulled some strings, though, emerging from his office in Rome Sunday night to halt the birth of a government led by the anti-establishment Five Star Movement and the far-right League by vetoing Euroskeptic Paolo Savona as finance minister. To some, Mattarella has taken a bold stance against populist rule.
Northern League leader Matteo Salvini speaks with the press on May 28, 2018 after leaving the Chamber of Deputies in Rome, Italy. Italian President Sergio Mattarella nominated the former director of the IMF Carlo Cottarelli as prime minister, after Giuseppe Conte, the previous candidate, had quit after Five Star Movement and Northern League appointee as finance minister Paolo Savona was rejected by the Italian president. Italy has proven yet again that the main market risk facing the world today is not a China hard landing or the Russian ne’er do wells.
The attempt to join two anti-establishment parties from either side of the political spectrum appears to have resulted in an immediate failure to launch.
IN THE NEWS Political worries about Italy and Spain gripped markets Tuesday, triggering sharp falls in stocks, a drop in the euro and big moves in bond markets: Link $ Apple Inc. (NASDAQ: AAPL ) analysts ...
Italian President Sergio Mattarella rejected an economic ministry nominee Sunday who would have laid groundwork for a euroskeptic government and struck at the stability of the euro. The League and 5-Star Movement — previously contentious anti-establishment parties that together nominated Paolo Savona for the economic ministry post — are expected to unite in upcoming elections to advance their shared mission of Italian autonomy. “The upcoming elections will not be political, but instead a real and true referendum ... between who wants Italy to be a free country and who wants it to be servile and enslaved,” League leader Matteo Salvini said Monday.
Italy country-specific exchange traded funds weakened Friday as hedge funds' bearish bet against Italian bonds reached levels not seen since the financial crisis. On Friday, the iShares MSCI Italy Capped ETF (EWI) declined 2.7% and Franklin FTSE Italy ETF (FLIY) decreased 4.2%. Italian markets have been retreating in this year, and observers grew increasingly bearish in recent days on fears that Italy's likely new anti-establishment coalition government will add to the country's debt pile and potentially loosen ties with the European Union, the Wall Street Journal reports.
Before Italy’s general election in March, strategists said the worst-case scenario for equity markets would be an anti-establishment coalition government. Giuseppe Conte is on track to become the new prime minister, with a pair of populist parties — the 5 Star Movement and the League — picking the little-known law professor as a compromise candidate to head their coalition. The new government represents “the worst-case scenario,” with its plans worrying investors, but there are some reassuring factors, said Seema Shah, an investment strategist at Principal Global Investors.
International exchange traded funds, particularly those providing access to developed markets, remain popular destinations for investors. Last year, four of the top 10 ETFs in terms of new assets added were international equity funds. Year-to-date, four international funds are also among the top 10 asset-gathering ETFs.
At its April 26 meeting, the ECB’s (European Central Bank) governing council sounded optimistic about the European Union’s growth momentum. Speaking at a press conference after the meeting, ECB president Mario Draghi acknowledged evidence of a pullback in economic growth from the previous quarter, but maintained the view that economic growth in the Eurozone (HEDJ) will remain solid and broad-based.
With a year-to-date gain of 11.52%, the iShares MSCI Italy Capped ETF (EWI) is one of this year's best-performing developed markets single-country exchange traded funds. Some sector-level fundamental factors suggest the largest US-listed Italy exchange traded fund can continue delivering upside. Italy is still struggling with issues within its banking sector, an important consideration with EWI because financial services is the largest sector allocation in the largest Italy exchange traded fund.