|Bid||24.50 x 1400|
|Ask||26.65 x 42300|
|Day's Range||26.03 - 26.35|
|52 Week Range||19.51 - 34.31|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-23.00%|
|Beta (5Y Monthly)||1.02|
|Expense Ratio (net)||0.50%|
The United States Trade Representative is weighing new tariffs on $3.1 billion in exports from France, Germany, Spain and the U.K.The USTR made a disclosure in a filing stating the additional list of products, which contains 30 tariff subheadings with an approximate value of $3.1 billion.The products named for new tariffs include olives, gin, chocolate and trucks, while the USTR proposed increased tariffs for aircraft and yogurt.This is not the first time the U.S. has discussed imposing tariffs on European goods. In October 2019, the USTR announced $7.5 billion in tariffs on European products that took effect Oct. 18.Last year, the World Trade Organization authorized annual tariffs on a range of European goods, including luxury goods and premium spirits, that are imported to the U.S.On Tuesday, it emerged that President Donald Trump could also reimpose tariffs on aluminum imports from Canada later this week.Related Links:Analyst: US Tariffs On European Goods Will Impact Luxury MarketBloomberg: Trump's Mexican Tariffs Are 'Reckless,' Could Trigger RecessionSee more from Benzinga * Bank Of England Boosts Bond Buying By 4B, Maintains Bank Rate * UK Formally Confirms To EU That It Won't Extend Brexit Transition * The Undervalued Currencies In A Coronavirus Market, According To SEB(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The U.K. formally confirmed Friday to the European Union it will not extend the Brexit transition period.The U.K. officially left the EU Jan. 31, but the transition period lasts until Dec. 31, which means U.K. is still bound to some EU rules.Cabinet Office minister Michael Gove tweeted:> I just chaired a constructive EU Joint Committee meeting with @MarosSefcovic> > I formally confirmed the UK will not extend the transition period & the moment for extension has now passed. On 1 January 2021 we will take back control and regain our political & economic independence pic.twitter.com/nZjNpez8LI> > -- Michael Gove (@michaelgove) June 12, 2020The full press conference by European Commission Vice-President Maroš Šefčovič following the second meeting of the EU-UK Joint Committee can be found here.The BBC reports that checks on EU goods coming into the U.K. will be phased in 2021 to give firms "time to adjust."Related Links:Brexit Finally Arrives, Johnson Says It's 'A New Dawn'A Brexit Recap: What's Next?See more from Benzinga * Brexit Trade Talks In Deadlock, 'Progress Remains Limited' * ECB Doubles Pandemic Bond-Buying Program, Investors Watch Europe With Interest * Brexit Update: Coronavirus Creates Further Uncertainty Over UK Trade Agreement(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The United Kingdom and European Union Brexit trade talks are in a deadlock, with both sides criticizing each other's negotiation stance.'Progress Remains Limited' Between UK, EU The U.K. officially left the EU Jan. 31, but the transition period lasts until Dec. 31, which means U.K. is still bound to some EU rules. This is the fourth round of Brexit negotiations between London and Brussels.On Friday, Michael Barnier, the EU chief negotiator said: "in all areas, the U.K. continues to backtrack on the commitments it has undertaken."Barnier says the U.K. doesn't want to talk about "cooperation on foreign policy, development and defence ... I still don't understand why?"U.K. chief negotiator David Frost has also said "progress remains limited."Brexit Overshadowed By Pandemic The U.K. and the EU have had to deal with the global coronavirus pandemic, which has seen Brexit trade negotiations fall to the wayside. "The Brexit issue, like so much else, has fallen under the radar due to the COVID19 crisis, but negotiations are going on, albeit slowly," said Per Hammarlund, chief emerging markets strategist at SEB AB in Stockholm.Before the end of June, a decision needs to be made as to whether the transition period should be extended by two years to allow more time for negotiations of the final agreement, adds Hammarlund.UK, EU Stuck In Messy Divorce Negotiations "Today, negotiators of the divorce agreement should have been ready with a proposal for such an extension, but it appears as if they have hit a wall," says Hammarlund.In exchange for an agreement, the EU wants the U.K. to continue to follow some of the EU rules to ensure a level playing field and for the European Court of Justice to have jurisdiction in the U.K, adds the analyst.FXTM research analyst Lukman Otunuga said the clock is "dangerously ticking closer" to the June 30 extension deadline, increasing fears over a no-deal Brexit. "Given how the coronavirus chaos has exposed the UK economy to downside shocks with a technical recession on the horizon, more drama and uncertainty around Brexit is the last thing the economy needs," adds Otunuga.The analyst expects the British Pound to remain vulnerable, depressed and unloved as Brexit fears and growth concerns haunt investor attraction toward the currency. Fishing Rights Brussels and London disagree on fishing rights, security and governance.The U.K. is resisting EU demands for continued long-term access to British waters. The EU wants fishing rights in British waters."There have been no significant areas of progress" on fishing, "economic fair play, trade fair play" or governance, said the EU's Barnier. He adds the UK-EU talks can't "go on like this forever."SEB's Hammarlund said that none of this is acceptable to the British. "Now everyone hopes that a scheduled meeting between Boris Johnson and Ursula von der Leyen later this month will be able to resolve the knots." British fishermen have argued that joining Europe led to the decimation of the fishing industry and now see a golden opportunity to right that wrong, according to Foreign Policy.What's Next Talks between the U.K. and the EU are set to continue Oct. 31 when the two hope to find "some common ground" and come to an agreement.Related Links:Brexit Update: Coronavirus Creates Further Uncertainty Over UK Trade AgreementA Brexit Recap: What's Next?See more from Benzinga * ECB Doubles Pandemic Bond-Buying Program, Investors Watch Europe With Interest * Brexit Update: Coronavirus Creates Further Uncertainty Over UK Trade Agreement * European Union Sets Out 750-Billion-Euro Coronavirus Recovery Plan(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The United Kingdom is meeting for the fourth round of Brexit negotiations between London and Brussels Tuesday, as a comprehensive trade deal to replace the transition phase by the end of this year kicks off.The U.K. officially left the European Union on Jan. 31 and is in a Brexit transition period that aims to give both sides some breathing space while a new free trade agreement is negotiated between the U.K. and the EU.The coronavirus pandemic has overshadowed the urgency of Brexit. Both sides have been negotiating using videoconferencing, with the next round of virtual talks beginning on Tuesday.FX Analyst Predicts Limited Agreement In 2020 Richard Falkenhall, senior FX strategist at SEB, says to expect a "limited trade agreement to be reached by end of 2020," adding that the COVID-19 pandemic creates further uncertainty."Time is running out and the deadline for an extension of the transition period is now less than one month away," Falkenhall says in a research note.In a letter to the British Parliament, EU chief negotiator Michel Barnier told MPs that the EU is prepared to accept an extension of one or two years to have enough time to negotiate a new deal, and so far this has not been an option for U.K. Prime Minister Boris Johnson and the U.K. government, according to SEB. "Our main scenario remains that some sort of limited trade agreement will be reached before the end of 2020, because the alternative would be bad for both parties," the analyst says. There's no doubt the coronavirus outbreak has created further uncertainty, as the EU would now prefer to focus on support for its own economy, including a long-term budget and the new rescue fund, rather than on negotiations with the U.K., adds Falkenhall.Fishing Rights There is one area which is coming under extreme scrutiny: fishing rights. Both Brussels and London disagree on fishing rights, security and governance.British fishermen have argued that joining Europe led to the decimation of the fishing industry and now see a golden opportunity to right that wrong, reports Foreign Policy.Related Links:Brexit Finally Arrives, Johnson Says It's 'A New Dawn'A Brexit Recap: What's Next?See more from Benzinga * European Union Sets Out 750-Billion-Euro Coronavirus Recovery Plan * Coronavirus Crisis An Existential Threat To European Union, Says George Soros * German Constitutional Court Challenges ECB's Bond Buying(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The European Union is proposing a 750-billion-euro ($824 billion) coronavirus recovery plan to assist the bloc with its recovery. The funds, as well as targeted reinforcements to the long-term EU budget for 2021-2027, will bring the total financial firepower of the EU budget to 1.85 trillion euros, according to the European Commission. "This is Europe's moment. Our willingness to act must live up to the challenges we are all facing. With Next Generation EU we are providing an ambitious answer," said Commission President Ursula von der Leyen. "The coronavirus pandemic has shaken Europe and the world to its core, testing health care and welfare systems, our societies and economies and our way of living and working together."Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.EU Must Evolve To Survive, CIO Says "While the EU relief package will certainly help things in Europe, it appears to be more of a stop gap measure and pales in comparison to actions taken by the U.S. government," Zach Abraham, chief investment officer and principal at Bulwark Capital Management, told Benzinga."Although we are keeping a watchful eye on all ECN and EU relief measures, we are far more focused on recent comments by Macron and Merkel that point to a willingness or at least an openness to a tighter fiscal union." In Abraham's view, the EU cannot continue as it is structured today."Either Germany will have to relent on ECB guidelines which restrict the central bank from applying unilateral QE and other forms of monetary stimulus (currently the ECB can only apply monetary stimulus evenly across all member countries) or more countries, specifically Italy and Spain, will be forced to leave." This issue is far more critical to the economic prospects of the EU as a whole, the professional investor said. On Friday, billionaire George Soros said the survival of the EU is challenged and that the EU may break apart in the wake of the coronavirus pandemic unless the bloc issues perpetual bonds to help weak members such as Italy. Soros said the damage to the eurozone economy will last longer than most people believe.Related Links:Coronavirus Crisis An Existential Threat To European Union, Says Billionaire Investor, Philanthropist George SorosEuropean Union Shapes COVID-19 Stabilization Plan: 'Details Have To Be Worked Out'See more from Benzinga * Coronavirus Crisis An Existential Threat To European Union, Says George Soros * German Constitutional Court Challenges ECB's Bond Buying * European Union Shapes COVID-19 Stabilization Plan: 'Details Have To Be Worked Out'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
European Union leaders debated hard to reach an agreement on the structure of an economic recovery program.On Thursday, 27 EU leaders met in a virtual video conference to discuss proposals to stabilize Europe's economy, which is struggling due to the coronavirus pandemic.The Roadmap To Recovery The EU has set out a "Joint Roadmap for Recovery" which defines key areas for action: single market, massive investment efforts, EU global action and better governance.The heads of state have also endorsed the agreement of the Eurogroup on three safety nets for workers, businesses and sovereigns, amounting to a package worth 540 billion euros ($584 billion). The package is to be operational by June 1. The Guardian reports that Italian Prime Minister Giuseppe Conte told the EU group the health emergency has become an economic and social emergency. He supports Spain's 1.5-trillion-euro plan for grants for the hardest-hit countries, funded by perpetual non-maturing bonds.But Germany, Sweden and the Netherlands have shown resistance and are not keen on financial transfers, preferring loans.The EU leaders discussed the necessary steps to avoid the tail risk of the COVID-19 crisis morphing into a full-blown EU and euro crisis, Frederique Carrier, head of investment strategy at RBC Wealth Management, said in a note. "There is broad based agreement the recently announced €540 billion package agreed to by Eurogroup finance ministers needs to be enlarged, but details have to be worked out," the strategist said. The European Central Bank is widening further its collateral rules, now accepting so-called "fallen angels" -- for example, marketable securities that held an investment grade rating on or prior to April 7 but were downgraded subsequently to levels of BB or above, he said. "By doing so, the ECB is following in the footsteps of the Federal Reserve, which announced a similar measure recently. We think it should benefit significant areas of the corporate sector whose ratings came under significant pressure in the wake of the current economic slowdown." Earlier this month, French President Emmanuel Macron warned the EU could collapse unless it embraces financial solidarity.Related Links:France's Macron Warns Of EU Collapse Without Financial CooperationLagarde Asks European Countries To Support 'Coronabonds'See more from Benzinga * France's Macron Warns Of EU Collapse Without Financial Cooperation * UK Prime Minister Boris Johnson Tests Positive For Coronavirus * Prince Charles Tests Positive For Coronavirus, Remains In Good Health(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Britain's Prince Charles, the Prince of Wales, tested positive for the coronavirus on Wednesday.In a statement Clarence House announced Prince Charles has tested positive for novel coronavirus. Camilla, the Duchess of Cornwall, has also been tested but does not have the virus.The couple are now self-isolating. It's reported his last public engagement was on March 12.See Also: Why Meghan Markle Has A Tough Time Being A PrincessAccording to the statement, the 71-year-old prince, "had been displaying mild symptoms but otherwise remains in good health and has been working from home throughout the last few days as usual."Prince Charles is second in line to the British throne as the eldest son of Elizabeth II.Photo credit: Dan Marsh, FlickrSee more from Benzinga * Boris Johnson Announces UK Lockdown, Says Coronavirus Is Biggest Threat In Decades * Brexit Finally Arrives, Johnson Says It's 'A New Dawn'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
UK Prime Minister Boris Johnson announced Monday that people will be barred from leaving their homes in an effort to stop the spread of the coronavirus spread.Johnson said people in Britain will be allowed to leave their homes for only very limited purposes, such as shopping for basic necessities, for one form of exercise a day, for any medical need and to travel to and from work when absolutely necessary.The coronavirus is "biggest threat [UK] has faced for decades," Johnson warned.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.The tougher measures have been implemented after this weekend the UK witnessed many people flocking to parks to enjoy the start of spring.Johnson said people are warned not to meet friends or family members who they don't live with and the police will have powers to enforce the rules, including through fines and dispersing gatherings.All shops selling non-essential goods, such as clothing and electronic stores, are ordered to close. Libraries, playgrounds, outdoor gyms and places of worship are to close. All gatherings of more than two people in public - excluding people you live with - are banned and all social events, including weddings and baptisms are banned, excluding funerals.These restrictions have been implemented for three weeks until further notice.See more from Benzinga * Brexit Finally Arrives, Johnson Says It's 'A New Dawn'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
While the rest of the market was distracted, United Kingdom country-related exchange traded funds continued to slip on fears that Prime Minister Boris Johnson's tough stance on talks with the European Union could lead to a hard Brexit. On Monday, the iShares MSCI United Kingdom ETF (EWU) declined 0.7%, and the currency-focused Invesco Currency Shares British Pound Sterling (FXB) weakened 1.6% as the British pound dropped 1.6% against the U.S. dollar to $1.2992. Weighing on U.K. markets, traders were worried that Britain could hit the end of a 11-month transition period without a trade deal with the European Union in place.
Biden Can’t Abide Facebook Joe Biden is going after Facebook (NASDAQ:FB). He wants to get rid of a law that protects Facebook and other social media sites from liability for posts by its users. This would mean that Facebook could potentially be sued by anyone who claims that a post on Facebook caused or was […]The post Market Morning: Biden v Facebook, Idahoans Splurge in Oregon, BoJo Threatens the Axe, appeared first on Market Exclusive.
As investors position their portfolios for the year ahead, many may be focusing on European markets and region-related ETFs to capture new opportunities for growth. “Confidence is recovering at a pace ...
The Iran Mess Gets Messier The Defense Secretary contradicts a Brigadier General. The Pentagon contradicts the President while he draws up sanctions against an ally. It’s getting very confusing on the foreign policy front and it appears one part of the system doesn’t know what the other part is doing. In a letter sent by […]The post Market Morning: Mideast Policy Chaos, Brexit Continues, Impossible Pork, China Changes Mind appeared first on Market Exclusive.
Brexit…Source: Shutterstock That's the term the press uses to describe the decision British voters made in June 2016 to leave the European Union (EU).And it's setting up what could be your best-performing investment in 2020 - British stocks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHere's colleague Teeka Tiwari on the opportunity dead ahead… * 7 Vaping Stocks to Get into Ahead of the Crowd I know what you're probably thinking… "Teeka, have you lost your mind?! What do I care about some political event taking place on the other side of the world? I don't invest in foreign stocks. Britain leaving the EU doesn't affect me here in America. There is no possible way this will make sense for me!"And you know what? Normally, I'd agree with you. But this investment opportunity is one that is simply too big for any rational person with an interest in building wealth for the future to ignore.Today, I (Chris) will give you the lowdown on why Teeka is so excited about the opportunity in a stock market more than 3,000 miles away.I'll also show you a "one-click" way you can profit without directly having to buy a single British stock.What's so special about British stocks right now?Simply put, Britain has an unloved stock market. That's thanks to all the economic uncertainty the unresolved Brexit saga caused.Unloved markets tend to be cheap. And although most amateur investors run away from stocks that are cheap and unloved, the pros know these are where to make the real money.Take a look at the next chart. It's of the price-to-earnings (P/E) ratio of the main British stock market index, the FTSE 100 Index. It tracks the top 100 British-listed stocks by market cap.The P/E ratio tells you how many dollars investors are willing to pay for one dollar of earnings the companies in an index produce.And as you can see, the P/E ratio for the FTSE 100 has plunged 63% since the Brexit vote.Said another way, you can buy one dollar of earnings these top British stocks produce at a 63% discount from what was on offer the day of the Brexit referendum.Don't worry if you haven't been following the three-year Brexit saga…The execution of Britain's departure from the EU hasn't exactly been smooth. Successive governments tried - and failed - to ratify the Brexit referendum vote in Parliament.This has left the British economy in limbo. The country has been neither fully in… nor fully out of the EU. So I wouldn't blame you for not following all the convoluted details.I'm Irish. That makes me a citizen of the EU. I have a vested interest in the outcome of Brexit. But I still get exhausted trying to keep up with all the stops and starts.That's about to change, though.As we showed you yesterday, Brexiter-in-chief Boris Johnson won a landslide victory last week for his Conservative Party.And he did it by running on the campaign slogan "Get Brexit done."That's what will happen in 2020. After three years of uncertainty over Brexit, Johnson now has the mandate to get Brexit passed in Parliament… and finally take Britain out of the EU.That means outsized returns for folks who bet on a "Boris boom"…Boris Johnson didn't just win last week's election. He won the biggest majority for the Conservative Party since 1935.This has given him a thumping mandate to take Britain out of the EU… and clear up three years of Brexit uncertainty.There's one thing stock market investors hate more anything else… and that's uncertainty. Investors hate not knowing what's going to happen with a looming event.That's why Teeka has been on the hunt for opportunities to profit from the Brexit news. As things go from uncertain to less uncertain… that's usually a great time to buy in.Teeka again…This has the potential to make you serious money - no matter whether you're an expert on Brexit or have been living under a rock and have never heard of it before.That's because it's got nothing to do with knowing politics, but simply understanding the market's reaction to politics - and how we can take advantage of it.Teeka is right. This isn't about understanding the intricacies of Brexit. Frankly, life is too short. It's about understanding that Brexit has caused a lot of uncertainty for investors… and that much of that uncertainty is now going away.We're not the only ones taking note…So is Goldman Sachs. In a recent research note to clients, it listed British stocks as one of its top seven investment ideas for 2020.The investment bank has identified that $150 billion in foreign funds will flow into Britain now that Brexit will go ahead. This, it says, will propel economic growth in Britain through the early 2020s.That growth spurt will translate into a surge in beaten-down British stocks.We're already starting to see confidence return to British markets. Just this week, S&P Global Ratings and Fitch Ratings upped their assessment of the British government's creditworthiness. Here's Bloomberg with the report…At S&P, the country's outlook was shifted to stable from negative, with analysts citing the diminished risk of a no-deal Brexit. Meanwhile, Fitch took the U.K. off Rating Watch Negative -- removing the immediate threat of a downgrade -- but did maintain a negative outlook.That's why Teeka recommends you consider taking a small position in British stocks.You can do that easily through your regular online broker…The iShares MSCI United Kingdom ETF (EWU) covers the top 85% of British companies by market value.The fund trades on the New York Stock Exchange. But it gives you exposure to stocks trading primarily on the London Stock Exchange.So it will give you broad exposure to the rebound in British stocks we see ahead.And kudos if you're one of our Alpha Edge subscribers… and you followed Teeka and William Mikula's Brexit playbook.Teeka and William closed out two Brexit trades this year for gains of 89%… and 150%. And that's on top of the trades they closed out on the gold market for 140%… and 263%.And get this… Teeka and William didn't have a single losing trade in all of 2019.And Teeka and William aren't done yet. So if you're a paid-up Alpha Edge subscriber, make sure you keep a cash hoard ready to take advantage of more opportunities as Brexit plays out. For more on how to do that, catch up here.Regards,Chris Lowe December 19, 2019 Dublin, Ireland More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Vaping Stocks to Get into Ahead of the Crowd * 5 Retail Stocks That Are Winning Big This Holiday Season * Make the Shift Toward Value Stocks With These 5 Picks The post As Brexit Uncertainty Clears, Itas a Great Time to Invest in British Stocks appeared first on InvestorPlace.
United Kingdom markets and country-related ETFs retreated Tuesday on growing concerns that the U.K. could divorce the European Union at the end of next year without a trade agreement. On Tuesday, the iShares MSCI United Kingdom ETF (EWU) declined 1.7%, and the currency-focused Invesco Currency Shares British Pound Sterling (FXB) fell 1.7% as the British pound dropped 1.6% against the U.S. dollar to $1.3121, its worst daily pullback in over a year. Prime Minister Boris Johnson wants to prevent a transition period after the U.K.’s Brexit from being extended beyond the end of 2020, the Wall Street Journal reports.
United Kingdom country-specific ETFs rallied Friday after a major victory for Prime Minister Boris Johnson’s Conservative Party in the British elections helped alleviate political uncertainty over Brexit. ...
BoJo Blowout, Britons Back Brexit (Again) Boris Johnson and his Tory Conservatives completely trounced Jeremy Corbyn’s Labour last night in a landslide victory that saw the Tories win the most seats since the days of Iron Lady Margaret Thatcher. With all but two seats declared, the Tories are up on 363 to Labour’s 203, an […]The post Market Morning: BoJo Brexit Blowout, Maybe China Deal, Major League Cannabis, Aramco Shenanigans appeared first on Market Exclusive.
Prime Minister Boris Johnson pushed for a general election, saying he wanted "to be reasonable with Parliament" and give MPs more time to scrutinize his Brexit withdrawal deal. The U.K. is divided into 650 areas that are known as constituencies, and each area has a Member of Parliament, or MP, who will represent the constituency in the House of Commons in London. Most MPs belong to political parties such as the Labour Party, Conservative Party and the Liberal Democrats.
Though global dividend growth has slowed, these countries have recorded solid payments, making it necessary to have a look at these ETFs.
Britain has the option to exit the E.U. before this deadline if its Parliament and the European Parliament ratify a deal. The EU is unlikely to oblige, according to the BBC. The bloc wants to avoid a no-deal scenario in case the British Parliament can’t ratify Johnson’s proposal by January. The EU further said it isn’t open to renegotiating the “Brexit deal” agreed to with Johnson.
The Lowdown on The Brexit Deal It’s going to be a weekend of fireworks galore in the United Kingdom, possibly one of the most interesting times in the country’s history since World War II. Except this time nobody is going to get bombed and killed, so that’s definitely a plus. SEE: Canopy Rivers Gets Approval […]The post Market Morning: Brexit Deal Details, Drug Wars, Danone Down, Aramco Delay, Hong Kong Boils appeared first on Market Exclusive.