Seeking Alpha

This just in: Spanish bull market underway

  • Obscured by the government shenanigans in the U.S. and Italy is continuing improvement in the European periphery, particularly Spain, particularly the country's banking sector. The iShares MSCI Spain Capped ETF (EWP) after today's 1.5% rise is ahead by 15% in the last month and nearly 30% over the last quarter.
  • Two of the fund's three largest holdings - banking giants Banco Santander (SAN +3.1%) at 20% of AUM, and BBVA (BBVA +1.9%) at 12.6% of AUM - are each more than 30% higher during the same time frame.
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Comments (4)
  • Advill
    , contributor
    Comments (2273) | Send Message
     
    EWP will be THE surprise next year, Spain is right now growing slightly and 2Q!4 will be over 1% for a strong 2% in 4Q14, so this undervalued ETF will surely reflect that, Spanish banks Specially medium size are big offers right now. as Popular or Sabadell

     

    Rgds.
    4 Oct 2013, 03:37 PM Reply Like
  • TFCAB
    , contributor
    Comments (2008) | Send Message
     
    LONG $SAN
    4 Oct 2013, 03:43 PM Reply Like
  • Nshus2000
    , contributor
    Comment (1) | Send Message
     
    Wont last for SAN...they are changing bank name in U.S. from Sovereign to Santander....that will prove to be a mistake and will show up in stock price....they will see US bank deposits drop.
    4 Oct 2013, 03:55 PM Reply Like
  • sederrj
    , contributor
    Comments (112) | Send Message
     
    Have both but I think BBVA has more growth potential.
    4 Oct 2013, 09:10 PM Reply Like
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