iShares MSCI Italy Capped ETF(EWI)- NYSEARCA
  • Feb. 19, 2015, 8:40 AM
    • "The eurozone rescue architecture is more robust than during the last Grexit scare in 2012," says S&P's Moritz Kraemer, noting the introduction of the European Stability Mechanism which could support teetering sovereigns.
    • Banks' gross exposure to Greek  financial institutions is just $77B, according to the BIS, down from more than $250B five years ago, and $126B at the end of 2011.
    • Kraemer also notes the wide spread between the sovereign yields of Greece with those of the rest of the periphery, suggesting investors believe the redenomination risk for the rest of the PIIGS is rather low (and markets never get this sort of thing wrong!).
    • ETFs of interest: EWP, EWI, EIRL, PGAL, QESP
    | Feb. 19, 2015, 8:40 AM | 2 Comments
  • Feb. 4, 2015, 4:01 PM
    • Unable to divine the fate of Greece's bailout program, the ECB earlier withdrew a waiver which had allowed the use of Greek government paper as collateral for borrowing despite its low credit rating.
    • Alongside a drop in U.S. stocks, the euro (NYSEARCA:FXE) has given up about 40 pips in minutes, now lower by 0.8% on the session at $1.1386.
    • European markets are closed, but the Stoxx 50 ETF (FEZ -2.1%) - trading in New York - takes a tumble. Others of note: Spain (EWP -2.7%), Italy (EWI -2.6%), France (EWQ -1.8%), Germany (EWG -1.6%), U.K. (EWU -0.9%).
    • Broad European ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, EURL, ADRU, FEEU, DBEU, IEUR, FIEU, ESTX, HEZU, SBEU, DBEZ, FEUZ
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Feb. 4, 2015, 4:01 PM | 7 Comments
  • Jan. 30, 2015, 5:41 AM
    • Heightening the risk of a slide toward deflation, Eurostat today reported the largest decline in consumer prices in the eurozone since July 2009.
    • Consumer prices were 0.6% lower than in January 2014, having fallen 0.2% on an annual basis in December.
    • The plunge in consumer prices is unlikely to have an immediate effect on the ECB's €60B/month QE package, although the longer prices stay in negative territory, the more pressure the central bank will have to extend the program.
    • FTSE 100 -0.6%; DAX -0.5%; CAC 40 -0.7%; Euro Stoxx 50 -0.5%.
    • ETFs: EWG, GREK, EWI, EWL, EWD, EWQ, EPOL, PLND, EWO, EWN, EWK, EDEN, PGAL, DBGR, DAX, DXGE, EFNL, FGM, FSZ, QDEU, HEWG
    | Jan. 30, 2015, 5:41 AM | 5 Comments
  • Jan. 26, 2015, 11:39 AM
    • The Athens Stock Exchange General Index is down 3.2% and the FTSE/Athens Stock Exchange Large Cap Index off 5.6%, after the hard-left Syriza party comes to power in Greece.
    • Trading here, the Greece ETF (GREK -4.6%) and the National Bank of Greece (NBG -8.3%).
    • The rest of Europe, however, continues to enjoy the ECB's QE program, and the Stoxx 50 (NYSEARCA:FEZ) is higher by 0.9%, led by Italy (NYSEARCA:EWI) and Spain (NYSEARCA:EWP) each up 1.15%.
    • The euro (NYSEARCA:FXE) sunk below $1.11 in knee-jerk trade last night, but has reversed to $1.1278, up 0.7% on the session.
    • Meanwhile, European officials - led by Germany's Angela Merkel - move quickly to shoot down any idea of relaxed terms on Greece's bailout. On their mind, no doubt, is the striking success of Syriza yesterday possibly energizing other anti-austerity, left-wing movements elsewhere on the continent. The eurocrats don't want to give the idea that eased bailout conditions await new governments.
    • ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, EURL, URR, ADRU, FEEU, DBEU, IEUR, FIEU, HEZU, ESTX, FEUZ, DBEZ
    | Jan. 26, 2015, 11:39 AM | 11 Comments
  • Jan. 22, 2015, 8:47 AM
    | Jan. 22, 2015, 8:47 AM | 14 Comments
  • Jan. 16, 2015, 11:15 AM
    • There's a lot of talk about the carnage resulting from the SNB's move yesterday to drop the euro peg, but - outside of Switzerland - Europe is rallying for a 2nd consecutive session.
    • First, the Swiss move has led to a sharply weaker euro, not just against the franc, but vs. the dollar, pound, and yen. Second, the SNB likely dropped the peg after realizing - whether by friendly phone call from Frankfurt or otherwise - that the ECB is set to launch a massive QE program next week.
    • The Stoxx 50 (NYSEARCA:FEZ) is up another 1.6% today, with Germany's (NYSEARCA:EWG) DAX up 1.5% to an all-time high, France (NYSEARCA:EWQ+0.9%, Italy (NYSEARCA:EWI+1.8%, Spain (NYSEARCA:EWP+0.5%, and the U.K. (NYSEARCA:EWU+1.1%.
    • Parity here we come? The euro (NYSEARCA:FXE) is down another 1% vs. the dollar to just $1.1509.
    • ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, EURL, URR, ADRU, FEEU, DBEU, IEUR, FIEU, HEZU, ESTX, FEUZ, DBEZ
    • Previously: Europe liking SNB's cutting the euro loose (Jan. 15)
    | Jan. 16, 2015, 11:15 AM | 5 Comments
  • Jan. 15, 2015, 10:32 AM
    • Europe initially knee-jerked lower on the SNB's shock decision to abandon the CHF 1.20 floor for euro/franc, but has since turned sharply higher as investors mull the salutary effects of a much cheaper euro, now down 1.4% vs. the greenback and 12.8% vs. the swissie. FXE -1.4%
    • The Stoxx 50 (NYSEARCA:FEZ+2.3%, Germany (NYSEARCA:EWG+2.2%, France (NYSEARCA:EWQ+2.5%, Italy (NYSEARCA:EWI) +2.8%, Spain (NYSEARCA:EWP+1.5%. The U.K. (NYSEARCA:EWU) - where the pound (NYSEARCA:FXB) is lower by 0.3% vs. the dollar and 11.8% vs. the franc - is ahead by 1.5%.
    • ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, EURL, ADRU, FEEU, DBEU, IEUR, FIEU, HEZU, ESTX, FEUZ, DBEZ
    • Previously: Swatch boss: "Tsunami" just hit Swiss exporters (Jan. 15)
    | Jan. 15, 2015, 10:32 AM | 1 Comment
  • Jan. 6, 2015, 7:07 AM
    • U.S. stock index futures are all higher by about 0.25% after the major averages fell by more than 1.5% yesterday.
    • After it's near 4% dive yesterday, Europe is enjoying a meek bounce, the Stoxx 50 (NYSEARCA:FEZahead by 0.6%, led by Italy's (NYSEARCA:EWI1.3% gain. There's no joy yet in the U.K. (NYSEARCA:EWU) which is lower by 0.4%.
    • Crude oil took out another milestone overnight, falling below $49 per barrel. It's currently down 1.8% at $49.17.
    • Speaking of milestones, the U.S. 10-year Treasury yield cracked 2% overnight, falling as low as 1.98%. It's currently back at 2.00%, down three basis points on the session.
    • ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, PSQ, IVV, SPXU, UPRO, TQQQ, SPXL, RSP, QID, SQQQ, DOG, QLD, DXD, RWL, EPS, UDOW, SDOW, DDM, BXUB, QQEW, QQQE, SPLX, BXUC, SFLA, QQXT, SPUU
    | Jan. 6, 2015, 7:07 AM | 5 Comments
  • Jan. 5, 2015, 10:13 AM
    | Jan. 5, 2015, 10:13 AM | 7 Comments
  • Jan. 2, 2015, 5:33 AM
    • Eurozone manufacturing PMI remained subdued in December (below a flash estimate of 50.8) at 50.6, but above November's 16-month low of 50.1.
    • "Euro zone factory activity more or less stagnated again in December," says Markit. "The weakness of factory output, combined with the subdued service sector growth signaled by the flash PMI, suggests the eurozone economy grew by just 0.1% percent in the fourth quarter."
    • France and Italy's manufacturing sector continued to shrink in December, although Germany's figure was in line with earlier flash estimates at 51.2, as more new orders helped lead a return to growth.
    • The new data is yet another sign toward Mario Draghi announcing QE at the ECB's next policy meeting.
    • Euro Stoxx 50 index is -0.2%, while the euro is -0.5% at $1.2044.
    • ETFs: FXE, VGK, EUO, FEZ, EWP, EWI, ERO, EU, EPV, IEV, EZU, HEDJ, DRR, FEU, EUFX, UPV, ITLY, ULE, FEP, ADRU, URR, ITLT, FEEU, FIEU, DBEU
    | Jan. 2, 2015, 5:33 AM | 1 Comment
  • Dec. 31, 2014, 11:34 AM
    | Dec. 31, 2014, 11:34 AM
  • Dec. 16, 2014, 11:49 AM
    • Stocks have reversed opening losses to turn sharply higher, with the Dow (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) each ahead by more than 1%, and the Nasdaq (NASDAQ:QQQhigher by 0.7%. Alongside that turnaround is oil (NYSEARCA:USO), which plunged to a $53 handle earlier in the session, but is now ahead by 1.4% to $56.70.
    • Europe - which started in the green and than turned lower - turned around again to close on the highs, the Stoxx 50 (NYSEARCA:FEZ+2.4%, with Italy (NYSEARCA:EWI+3.2%, Germany (NYSEARCA:EWG+2.5%, France (NYSEARCA:EWQ+2.2%, Spain (NYSEARCA:EWP) +2.1%, U.K. (NYSEARCA:EWU+2.5%.
    | Dec. 16, 2014, 11:49 AM | 5 Comments
  • Dec. 12, 2014, 11:51 AM
    | Dec. 12, 2014, 11:51 AM | 3 Comments
  • Dec. 9, 2014, 7:25 AM
    • The election was originally scheduled next year, but will now take place next week, and stocks in Athens is lower by 11.3%. The yield on the Greek 10-year note is higher by 29 basis points, and the banks are faring the worst - National Bank of Greece (NYSE:NBG) is off 15% (the ADRs are down 12% premarket).
    • Prime Minister Samaras moved forward with the election after failing to win support from the troika for his 2015 budget, and eurozone finance ministers signaled they're moving towards granting the country a 2-month extension to its bailout program - something the government didn't want as the austerity policies are killing it politically.
    • GREK -7.8% premarket
    • Broader Europe is lower as well, with Italy (NYSEARCA:EWI-1.4%, Spain (NYSEARCA:EWP) -1.7%, France -1.3%, and Germany -1%.
    • ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, EURL, ADRU, FEEU, DBEU, IEUR, FIEU, ESTX, HEZU, FEUZ
    | Dec. 9, 2014, 7:25 AM | 5 Comments
  • Dec. 5, 2014, 1:32 PM
    • Downgrading Italy to a BBB- credit (one notch above junk) from BBB, S&P sees Italian average real GDP growth of just 0.5% between 2014 and 2017; that's down from an earlier forecast of 1%.
    • Italy's FTSE MIB Index soared 3.4% amid a broad European rally thanks to renewed QE hopes. EWI has lost a little steam since the downgrade news, now ahead by 1.7%.
    • Previously: Ireland gets another credit rating boost from S&P (Dec. 5, 2014)
    • Previously: Europe rebounds as 2015 QE eyed (Dec. 5, 2014)
    | Dec. 5, 2014, 1:32 PM | 1 Comment
  • Dec. 5, 2014, 7:55 AM
    | Dec. 5, 2014, 7:55 AM
EWI Description
The iShares MSCI Italy Capped Index Fund (the “Fund”) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Italy 25/50 Index (the “Underlying Index”).
See more details on sponsor's website
Country: Italy
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