iShares MSCI United Kingdom ETF(EWU)- NYSEARCA
  • Sun, Aug. 21, 8:01 AM
    • The leaders of Germany, France and Italy will meet on an island off the coast of Naples tomorrow to discuss how to keep the European project together in the second set of talks between the eurozone's three largest economies since Britain's vote to leave the EU.
    • According to a French diplomatic source, Merkel wants to cement "a better Europe" rather than forge ahead with "more Europe," Renzi wants Italy to have a strong voice in how the bloc's future is shaped post-Brexit and Hollande wants an EU-wide investment plan to be doubled.
    • ETFs: EWG, EWI, EWU, DAX, GF, EWQ, DXGE, DBGR, HEWG, EWGS, FGM, FKU, DXPS, QDEU, DBUK, QGBR, HEWI, HEWU, DBIT
    | Sun, Aug. 21, 8:01 AM | 35 Comments
  • Fri, Aug. 19, 10:35 AM
    • U.K. Prime Minister Theresa May is likely to invoke Article 50 early next year, according to Bloomberg, contradicting earlier reports that May would wait until later in 2017, and likely dashing the idea that a Brexit could take several years.
    • Cable (NYSEARCA:FXB) is lower by 0.8% to $1.3060 on the news, and the FTSE 100 (NYSEARCA:EWU) is down 0.4%.
    | Fri, Aug. 19, 10:35 AM | 28 Comments
  • Fri, Aug. 19, 4:06 AM
    • The City of London has relinquished hopes the U.K. will retain full access to the European single market for goods and services, according to the FT.
    • Officials from the financial sector have concluded that a Norway-style deal is untenable, and are now looking to imitate and build on Switzerland's deal with the EU, where only some industries have full access to the single market.
    • Will that mean the relocation of banking staff?
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Fri, Aug. 19, 4:06 AM | 6 Comments
  • Thu, Aug. 18, 5:07 AM
    • Retail sales in the U.K. posted a larger increase than expected in July, as hot weather bolstered sales of clothing and a drop in the pound encouraged tourists to open their wallets.
    • The volume of goods sold in stores and online jumped 1.4% M/M and 5.9% Y/Y.
    • The figures suggest the economy started Q3 on strong footing, despite Brexit prompting the Bank of England to revise down its growth forecasts.
    • Sterling +1% to $1.3171.
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Thu, Aug. 18, 5:07 AM | 5 Comments
  • Wed, Aug. 17, 5:08 AM
    • British unemployment remained unchanged at 4.9% in the three months to June, marking the last employment measurement before the U.K.'s decision to leave the EU on June 23.
    • In the same period, average weekly earnings rose 2.4%, meeting estimates.
    • Analysts in the coming months will continue to watch the unemployment level as one of the key indicators of how the Brexit vote is affecting the U.K. economy.
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Wed, Aug. 17, 5:08 AM | 2 Comments
  • Tue, Aug. 16, 5:14 AM
    • U.K. inflation accelerated in July and there were signs of further price pressures with the weak pound leading to the biggest jump in import costs since 2011.
    • Consumer-price growth picked up to 0.6% from 0.5% in June, and a 0.6% rise compared to the same period last year.
    • This week will also give some further signs of how the U.K.'s economy is faring post-Brexit: Unemployment data for July is due tomorrow, followed by retail sales on Thursday and public finance data on Friday.
    • Sterling +0.7% to $1.2970.
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Tue, Aug. 16, 5:14 AM | 7 Comments
  • Mon, Aug. 15, 10:33 AM
    • U.K. sovereign bonds have been one of the best performing assets in 2016, with yields on 10-year U.K. bonds slipping 140 bps since January, while thirty-year gilt prices rallied to return around 34.3% YTD with interest included.
    • "Is this normal?" said Saker Nusseibeh, CEO of Hermes Investment Management. "The BoE had no alternative because there's uncertainty, but it highlights we are in an 'Alice in Wonderland' (scenario, where) gilts become like growth stocks."
    • The collapse in gilt yields is the result of renewed safe-haven demand, the resumption of quantitative easing and the U.K. central bank's decision to cut interest rates by a quarter of a percentage point earlier this month.
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Mon, Aug. 15, 10:33 AM
  • Mon, Aug. 15, 3:25 AM
    • Britain's exit from the EU could be delayed until late 2019 because the government is too "chaotic" to start the two-year process early next year, the Sunday Times reported, citing sources that were briefed by ministers.
    • "They don't have the infrastructure for the people they need to hire. They say they don't even know the right questions to ask when they finally begin bargaining with Europe."
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Mon, Aug. 15, 3:25 AM | 16 Comments
  • Wed, Aug. 10, 6:25 AM
    • British businesses expect the vote for Brexit to lead to weaker investment, hiring and turnover over the coming year, according to the BoE's agents' survey of business conditions.
    • The monthly health check found that turnover expectations were most negative in the business services and construction sectors, but easier trading conditions were envisaged in manufacturing, where exports will be made cheaper by the fall in the value of the pound.
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Wed, Aug. 10, 6:25 AM
  • Wed, Aug. 10, 2:00 AM
    • The Bank of England's new bond-buying program ran into trouble on its second day of operations, as yield-hungry pension funds and insurers refused offers to sell gilts to the central bank.
    • The BoE said it would make up for the £52M it didn't buy in the second half of its six-month purchase program, but others feel the auction shortfall underscores problems the bank may hit going forward.
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Wed, Aug. 10, 2:00 AM | 9 Comments
  • Tue, Aug. 9, 5:24 AM
    • British 10-year government yields have slid below 0.6% for the first time on record, while the pound dropped against the dollar, despite signs of post-referendum resilience in U.K. retail sales.
    • Writing in an Op-Ed for The Times, Bank of England rate-setter Ian McCafferty said the central bank would cut rates further and boost bond purchases if the economic downturn in the U.K. deepens.
    • Sterling -0.5% to $1.2986.
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Tue, Aug. 9, 5:24 AM | 5 Comments
  • Thu, Aug. 4, 7:51 AM
    • Holding a press conference after the Bank of England cut rates and restarted its asset purchase program, Governor Mark Carney calls today's stimulus moves appropriate and says there's room for more, if necessary.
    • Thanks to Brexit, the Bank expects GDP to be 2.5% lower than what it forecast in May, while unemployment is seen rising to 5.5% over the next two years from its current 4.9%.
    • The pound (NYSEARCA:FXB) continues to slide, now down 1.45% to $1.3133, and the FTSE (NYSEARCA:EWU) continues to gain ground, now up 1.4%.
    | Thu, Aug. 4, 7:51 AM | 4 Comments
  • Thu, Aug. 4, 7:08 AM
    • The Bank of England unveils its bazooka, slashing its benchmark Bank Rate by 25 basis points to 0.25%, and restarting its dormant QE program.
    • The asset purchases are expanded from just government paper (another £60B) to U.K. corporate bonds (up to £10B) as well.
    • The news has the FTSE 100 higher by 1%, and the pound lower by 1%.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Thu, Aug. 4, 7:08 AM | 34 Comments
  • Wed, Aug. 3, 1:05 PM
    • It's universally accepted that the U.K. central bank will slash interest rates to record lows tomorrow to help counter the fallout from the Brexit vote, but the real risk to the economy is a Brexit boom, not bust, writes Matthew Lynn.
    • The economy, he says, was doing just fine prior to the vote, and the pound has plunged since, which should provide a nice jolt of stimulus. Plus, the government has "effectively abandoned fiscal restraint." What exactly is the argument for a rate cut on top of all this?
    • Yes, surveys show a knock to consumer and business confidence since the vote, but how could there not be given all the talk of a post-Brexit crash? Hard data paint a different story, with unemployment continuing to fall and wages rising. Retail sales are sluggish, but the soggy summer is probably behind that.
    • The sensible move, concludes, Lynn, is for the bank to postpone any rate cuts (or boosted QE) until more compelling evidence of a slowdown presents itself.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
    | Wed, Aug. 3, 1:05 PM | 9 Comments
  • Tue, Aug. 2, 6:27 AM
    • U.K. construction shrank the most since the financial crisis in July, with companies citing uncertainty related to Brexit for the continued weakness.
    • Markit's Purchasing Managers Index for construction activity slipped to 45.9 from 46 in June, marking the lowest level since 2009, when the economy was last in a recession.
    • All three sectors - housing, commercial and civil engineering - recorded sub-50 readings.
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Tue, Aug. 2, 6:27 AM
  • Tue, Aug. 2, 3:13 AM
    • U.K. Prime Minister Theresa May will outline her bid to reshape the British economy for a post-Brexit world today, reviving the once unfashionable concept of industrial policy 30 years after Margaret Thatcher killed it off.
    • May's office said the strategy would focus on addressing long-term industrial productivity growth, including encouraging innovation and focusing on sectors and technologies that give Britain a competitive advantage.
    • ETFs: EWU, FKU, DXPS, DBUK, QGBR, HEWU
    | Tue, Aug. 2, 3:13 AM | 3 Comments
EWU Description
The iShares MSCI United Kingdom Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the British market, as measured by the MSCI United Kingdom Index.
See more details on sponsor's website
Country: United Kingdom
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