|Bid||0.00 x 21500|
|Ask||0.00 x 36900|
|Day's Range||28.96 - 29.10|
|52 Week Range||26.58 - 34.45|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.49%|
Relief rally in Italian equities and country-specific ETF led global market gains Monday after Italy’s finance minister assuaged investors over the government’s spending plans. On Monday, the iShares MSCI Italy Capped ETF (EWI) jumped 3.0%. In contrast, the broad region-related Vanguard FTSE Europe ETF (VGK) was 0.9% higher.
The iShares MSCI Italy Capped ETF (EWI) continues struggling. At least one major ratings agency is taking a pessimistic view of Italy. Last week, Fitch Ratings revised its outlook on Italy's Long-Term Foreign-Currency Issuer Default Rating (IDR) to negative from stable.
Italy ETFs were among the few areas of strength in international markets Tuesday after the Italian debt market gained and yields declined from four year highs in response to Fitch Ratings decision to leave the country's credit rating unchanged. On Tuesday, the iShares MSCI Italy Capped ETF (EWI) rose 1.3%. Italian bond yields dipped after Fitch left its credit rating unchanged at BBB but revised its outlook to negative, Reuters reports.
European stocks and the related exchange traded funds are struggling this year, a point highlighted by the iShares MSCI Italy Capped ETF (EWI) . The sudden decline in Italian assets intensified on worries that the Eurozone’s third largest state could exit the bloc and may even trigger further breakdown in the euro currency union after the Five Star Movement and the League – two Euroskeptic parties – formed a coalition. Some market observers are concerned about the health of Italy's bond market.
Investors are continuing to whip the market back and forth on trade concerns, but the recent focus is a bit different. If you have been following the news, you know that the governments in the U.S. and Turkey are in dispute about trade tariffs and the return of a U.S. national, Andrew Brunson, who the Turkish government has accused of being involved in an alleged 2016 coup attempt. The dispute over Brunson has likely heightened tensions over the trade dispute, and Turkey’s government increased tariffs on U.S. autos to 120% and alcoholic beverages to 140% on Wednesday.
Italian stocks and the iShares MSCI Italy Capped ETF (EWI) are mired in slumps that started earlier this year amid fears Italy could leave the Eurozone. Italy’s markets were upended at the end of May on speculation of the potential rise of an anti-euro zone faction.
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.
Italy’s growing political crisis spread to financial markets, prompting a backlash from investors funding its highly indebted economy.
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.
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. ...