iShares MSCI Italy Capped ETF(EWI)- NYSEARCA
  • Dec. 4, 2014, 1:24 PM
    | Dec. 4, 2014, 1:24 PM | 11 Comments
  • Dec. 4, 2014, 9:06 AM
    • The decision on the ECB's balance sheet target was "not unanimous," says Mario Draghi at his post-policy meeting press conference - code for the "Germans are not yet on board for full-scale QE."
    • Veterans of the EU debt crisis have seen this play before. The Germans balk, markets tank, Draghi works it a bit longer, the Germans balk some more, Draghi works it even more, the central bank eventually moves forward with additional stimulus.
    • Updated ECB staff projections: 2015 GDP growth of 1% vs. 1.6% three months ago. 2015 inflation of 0.7% vs. 1.3% three months ago.
    • We're currently in the tanking phase, with the Stoxx 50 (NYSEARCA:FEZ) now lower by 1.3%, led by Italy's (NYSEARCA:EWI2.4% and Spain's (NYSEARCA:EWP1.9% declines. Germany (NYSEARCA:EWG) is lower by 0.7%, and France (NYSEARCA:EWQby 1%.
    • The euro (NYSEARCA:FXE) surges higher, now up 0.6% at $1.2386.
    • ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, EURL, URR, ADRU, FEEU, DBEU, IEUR, FIEU, ESTX, HEZU, FEUZ
    • Previously: ECB stays on hold; Draghi press conference in 45 minutes
    | Dec. 4, 2014, 9:06 AM | 8 Comments
  • Nov. 27, 2014, 6:44 AM
    • Draft documents seen by Reuters show that the 2015 budgets of several European countries, including France, Italy and Belgium are at risk of breaking EU rules.
    • The Commission specifically picked out the three for a second compliance review to take place in March. This gives the countries more time to adjust policy before the EU executive decides whether to fine France for missing consolidation targets or put Italy and Belgium under a disciplinary procedure because of their debt.
    • On Friday, the Commission will publish the assessments of all of the draft budgets of the 18 euro zone countries, except Greece and Cyprus which remain under bailout programs.
    • ETFs: EWI, EWQ, EWK, ITLY, ITLT
    | Nov. 27, 2014, 6:44 AM | 4 Comments
  • Nov. 21, 2014, 7:27 AM
    | Nov. 21, 2014, 7:27 AM | 10 Comments
  • Nov. 5, 2014, 7:01 AM
    • S&P 500 (NYSEARCA:SPY) and DJIA (NYSEARCA:DIA) futures are ahead by 0.35% and Nasdaq 100 (NASDAQ:QQQby 0.5%, with the GOP's taking of the Senate last night as good of an excuse as any for the mild rally.
    • A major rally in Europe (NYSEARCA:FEZ) is being led by Italy's (NYSEARCA:EWI1.8% gain, and Asia was mixed overnight.
    • The 10-year Treasury yield is up one basis point at 2.35%, and gold continue to get beat mercilessly, down another 2.5% to $1,138 per ounce, its lowest price in more than four years.
    • GLD -2.1% premarket
    • 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
    | Nov. 5, 2014, 7:01 AM | 23 Comments
  • Oct. 28, 2014, 5:09 AM
    • Business confidence rose to 96.0 in Oct. vs. 95.5 in Sept. and 95.0 expected.
    • Economic sentiment rose to 89.3 vs. 86.9 in Sept.
    • Construction confidence 77.5 vs. 75.5 in Sept. Services confidence 89.2 vs. 85.1. Retailer confidence 93.9 vs. 92.1.
    • Source: Istat
    • ETFs: EWI, ITLY, ITLT
    • Previously: ECB stress test failures centered among Italian banks (Oct. 26)
    | Oct. 28, 2014, 5:09 AM
  • Oct. 27, 2014, 12:52 PM
    • “Judging from the market reaction today, investors don’t completely believe in the ECB," says Peter Garnry, head of equity strategy at Saxo Bank. "They are more pessimistic on the banks."
    • Financial firms were among the worst performers today following the release of ECB stress tests over the weekend, falling 0.9% vs. the Stoxx Europe 600's decline of 0.6%. Hardest hit were the Italian lenders after that country's banks made up a disproportionate share of those who failed the exams. Not failing, but nevertheless hit: Unicredit (OTCPK:UNCFF, OTC:UNCFY-2.6%, Intesa Sanpaolo (OTCPK:IITOF, OTCPK:IITSF, OTCPK:ISNPY-3.1%. Italy's FTSE MIB index (NYSEARCA:EWI) led European declines, falling 2.3%.
    • Also taking a hit despite no issues from the stress tests were Europe's larger banking powers: Santander (SAN -3%), Deutsche Bank (DB -1.6%), ING (ING -1.8%), BBVA (BBVA -2.3%).
    • EUFN -1.4%
    • Previously: ECB stress test failures centered among Italian banks
    | Oct. 27, 2014, 12:52 PM | 14 Comments
  • Oct. 26, 2014, 1:20 PM
    • Twenty-five of about 150 EU lenders technically failed the central bank stress test, but 13 of them have already taken steps to bring their grade up to passing. That leaves 12 lenders with a capital shortfall of €9.05B ($12B) - the low end of market expectations (SocGen calls the amount "trivial").
    • “I would have preferred they be a bit tougher and force more [banks] to raise capital," says Pimco's global head of financial research Philippe Bodereau.
    • A total of nine Italian banks were found in need of more capital based on how things stood at year-end 2013, but five have already addressed that issue this year, leaving four lenders needing to come up with €3.31B in new capital. Most prominent is Banca Monte dei Paschi di Siena - the world's oldest bank and Italy's (NYSEARCA:EWI) 3rd largest - which needs to raise €2.11B. The bank today says it has retained investment banks to help explore strategic options.
    • Banks in Spain (NYSEARCA:EWP) and Germany (NYSEARCA:EWG) mostly aced the tests - with just one smaller lender in each country failing - but a number of midsize regional banks in Germany only squeaked by.
    • The iShares MSCI Europe Financial Sector ETF (NASDAQ:EUFN) is off 7.9% YTD.
    | Oct. 26, 2014, 1:20 PM | 10 Comments
  • Oct. 22, 2014, 3:57 AM
    • Following the submission of euro zone countries' budgets to Brussels for review last week, France and Italy will likely hear back today that their budget plans risk breaching EU rules, FT reports.
    • France is required to get its deficit back under the EU ceiling of 3% of economic output by next year but its plan ignored that commitment.
    • Italy must modify its structural budget into balance by 2015, as its public debt currently sits at 135% of GDP, far above the EU ceiling of 60%.
    • ETFs: EWI, EWQ
    | Oct. 22, 2014, 3:57 AM | 2 Comments
  • Oct. 21, 2014, 6:54 AM
    | Oct. 21, 2014, 6:54 AM
  • Oct. 15, 2014, 9:44 AM
    • Europe's Stoxx 50 (NYSEARCA:FEZ) is lower by 3.5%, led by a 3.7% and 3.6% declines in Italy (NYSEARCA:EWI) and Spain (NYSEARCA:EWP), respectively.
    • Germany (NYSEARCA:EWG) is down 3% and France down 3.5%.
    • In what may go down as one of the more notorious cases of herd behavior ever, traders have been buying the government paper of Europe's periphery with the same fervor as that of the core. That's changing today, and Italian and Spanish sovereign yields are on the rise as those in Germany tumble to new record lows.
    • ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, ADRU, FEEU, EURL, DBEU, EURZ, IEUR, FIEU, HEZU, ESTX
    | Oct. 15, 2014, 9:44 AM | 4 Comments
  • Oct. 14, 2014, 7:14 AM
    • Major U.S. stock index futures are marginally higher following yesterday's continued tumble, and with earnings season beginning to rev up - JPMorgan, Citigroup, and Wells Fargo all report before the bell today (JPMorgan already has and missed estimates by $0.02).
    • Italy's (NYSEARCA:EWI1.5% decline is leading Europe lower and Asia was in the red overnight.
    • Bond markets were closed yesterday, but the 10-year Treasury yield plummets all the way to 2.20% as action reopens. Gold is higher by $3 per ounce to $1,233.50.
    • ETFs: SPY, QQQ, SH, DIA, SSO, SDS, VOO, PSQ, IVV, SPXU, UPRO, TQQQ, SPXL, RSP, QID, SQQQ, DOG, QLD, DXD, RWL, EPS, UDOW, SDOW, DDM, BXUB, QQEW, QQQE, SPLX, SFLA, BXUC, QQXT, SPUU
    | Oct. 14, 2014, 7:14 AM
  • Oct. 14, 2014, 4:18 AM
    • Italian CPI -0.4% on month in September vs -0.4% in August and consensus of -0.3%.
    • On year, CPI -0.2% vs -0.2% and -0.1%. (PR)
    • Spanish CPI stayed at +0.2% on month in September, as expected. On year, CPI -0.2%, as forecast, vs -0.5% previously. That's the third consecutive month of annual price declines in Spain. (PR [Spanish])
    • ETFs: EWI, EWP, QESP
    | Oct. 14, 2014, 4:18 AM | 1 Comment
  • Oct. 10, 2014, 6:51 AM
    • Italian industrial output grew 0.3% on month in August after dropping 1% in July but missed consensus for +0.5%.
    • On year, production fell 0.7% vs -1.6% previously and forecasts of 0.2%.
    • Still, the monthly expansion provides a contrast to the general gloom surrounding the eurozone economy. (PR)
    • Earlier, French August industrial output came in flat vs +0.3% in July and expectations of -0.2%. (PR)
    • ETFs: EWI, EWQ
    | Oct. 10, 2014, 6:51 AM
  • Oct. 7, 2014, 11:42 AM
    • We've seen this movie before. The ECB floats the need for unconventional stimulus measures, and the Germans object, and then the Germans strenuously object. and then the plan moves forward anyway.
    • “There is a risk of monetary policy, especially in the euro area, being held hostage by politics,” Bundesbank chief Jens Weidmann tells the WSJ, unsurprisingly not pleased with the ECB's decision to begin buying ABS, and fiercely opposed to what could be the next step - full-out QE with the mass purchases of government paper.
    • Weidmann is but one member of the 24-person ECB governing council. While somewhat influential, he cannot veto any decisions and has been overruled by the majority in the past.
    • European stocks are at session lows, the Stoxx 50 (FEZ -1.6%), Italy (EWI -1.5%), France (EWQ -1.7%), Germany (EWG -1.1%), Spain (EWP -2%).
    • ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, ADRU, FEEU, EURL, EURZ, DBEU, IEUR, FIEU, HEZU, ESTX
    | Oct. 7, 2014, 11:42 AM | 1 Comment
  • Oct. 2, 2014, 7:09 AM
    • Stocks are set to open in flattish territory following yesterday's quarter-opening dive, and ahead of the ECB policy decision at 7:45 AM.
    • 1% decline in Italy (NYSEARCA:EWI) is leading shares lower in Europe and the Nikkei shed 2.6% overnight in Asia.
    • The 10-year Treasury yield - which dove yesterday alongside stocks - bounces a couple of basis points to 2.41%, and gold is down $2 per ounce to $1,214.
    • ETFs: SPY, QQQ, SH, DIA, SSO, SDS, VOO, PSQ, IVV, SPXU, UPRO, TQQQ, SPXL, RSP, QID, SQQQ, DOG, QLD, DXD, RWL, EPS, UDOW, SDOW, DDM, BXUB, QQEW, QQQE, SPLX, SFLA, BXUC, QQXT, SPUU
    | Oct. 2, 2014, 7:09 AM | 1 Comment
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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