Seeking Alpha

Market Vectors Israel ETF (ISRA)

  • Fri, Sep. 18, 10:41 AM
    • The iShares MSCI Saudi Arabia Capped ETF (KSA) is the first ETF with significant exposure to that country - an impossibility until June when Saudi Arabia opened up (limited) direct foreign investment in its stock market.
    • The ETF will track the MSCI Saudi Arabia IMI 25/50 Index which holds about 50 large-, mid-, and small-cap stocks. Interestingly, the index has 30% allocated to both financials and materials, but just 1.4% to energy stocks - it makes sense considering the country's oil production is state-owned and not publicly traded.
    • The next step for Saudi Arabia could be inclusion in the MSCI Emerging Markets Index - a possibility as soon as June 2017, according to the WSJ.
    • Source: Bloomberg
    | Fri, Sep. 18, 10:41 AM | 1 Comment
  • Wed, Apr. 8, 3:23 PM
    • What's the Market Vector Israel ETF (ISRA +2.9%) doing owning a 12% stake in Perrigo? It turns out Perrigo has a stock listing in Tel Aviv as well, thanks to its 2005 purchase of Agis Industries, then Israel's 2nd-largest drug maker.
    • In fact, Perrigo is the only non-Israeli company in the country's benchmark TA-25 Index.
    • The iShares U.S. Pharma ETF (IHE +2.4%) and the PowerShares Dynamic Pharma ETF (PJP +2.5%) are also on the move thanks to Perrigo.
    • Source: Barron's
    • Previously: Mylan makes $205/share bid for Perrigo; Generic firms rally (April 8)
    | Wed, Apr. 8, 3:23 PM | 1 Comment
  • Wed, Mar. 18, 2:55 AM
    • Prime Minister Benjamin Netanyahu's Likud party unexpectedly pulled ahead of his main rival in Israel's election, putting him in a leading position to form a governing coalition.
    • Citing unofficial results with 99% of the vote counted, Israeli media reported that Netanyahu captured 29 seats in the 120-member Knesset, five more than Isaac Herzog’s Zionist Union.
    • The TA-25 stock index is still closed for today, while the USD-ILS is +0.1% at 4.0162 shekels.
    • ETFs: EIS, ISRA
    | Wed, Mar. 18, 2:55 AM | 2 Comments
  • Tue, Mar. 17, 3:35 AM
    • Israelis are heading to the polls for a general election, with most surveys showing Benjamin Netanyahu's Likud party trailing Isaac Herzog's Zionist Union by three or four of the Knesset's 120 seats. The winner will still have to conduct negotiations to form a ruling coalition.
    • Major issues on the ballot include economic issues, especially the rising costs of housing, negotiations with the Palestinians and Iran’s nuclear program.
    • The Tel Aviv 25 index is closed today for the election, but rose 0.6% yesterday prior to the national holiday.
    • ETFs: EIS, ISRA
    | Tue, Mar. 17, 3:35 AM | Comment!
  • Aug. 20, 2014, 5:00 AM
    • The latest cease-fire in the Gaza Strip has collapsed, after Palestinian rocket fire resumed nearly eight hours before the cease-fire was due to expire.
    • Israel responded with airstrikes, and ordered its delegates back from Cairo saying it will not negotiate under fire.
    • Egyptian mediators have been struggling to end the 5-week-old conflict with several temporary cease-fires, but no permanent truce has yet emerged.
    • ETFs: EIS, ISRA
    | Aug. 20, 2014, 5:00 AM | Comment!
  • Aug. 5, 2014, 5:36 AM
    • Israel has withdrawn its ground forces from the Gaza Strip following its elimination of cross-border infiltration tunnels.
    • An Egyptian-mediated 72-hour ceasefire kicked in at 5:00 a.m. GMT, and over the course of the truce, delegates are expected to join talks in Cairo to cement a longer-term deal.
    • Egypt has positioned itself as a mediator in prior Gaza conflicts but, like Israel, its current administration views Hamas as a security threat.
    • ETFs: EIS, ISRA
    | Aug. 5, 2014, 5:36 AM | 3 Comments
  • Jul. 22, 2014, 4:22 AM
    • John Kerry arrived in Cairo last night to start negotiations and formulate a truce between Israel and Hamas.
    • Last week, Egypt proposed a cease-fire plan that was quickly agreed to by Israel and the PLO, although Hamas rejected it stating that "it did not go far enough to lift the siege on the Gaza Strip."
    • President Obama is urging a return to the November 2012 ceasefire agreement but noted that "it will obviously not be easy."
    • ETFs: EIS, ISRA
    | Jul. 22, 2014, 4:22 AM | Comment!
  • Jul. 18, 2014, 4:02 AM
    • Israeli soldiers and tanks have entered Gaza after 10 days of bombardments from the air failed to stop the rocket attacks from the Strip and cease-fire efforts collapsed.
    • The campaign is aimed at "destroying the terror tunnels dug from the Gaza Strip into Israeli territory," says PM Benjamin Netanyahu. "The goal is restoring quiet to the citizens of Israel for an extended period, with significant damage to the infrastructure of Hamas and other terrorist organizations."
    • Shares of Israeli companies listed in the U.S. tumbled to their lowest level in a week, led by Mellanox Technologies (NASDAQ:MLNX) which closed down 3.5%.
    • ETFs: EIS, ISRA
    | Jul. 18, 2014, 4:02 AM | Comment!
  • Jul. 15, 2014, 5:30 AM
    • Israel's security cabinet has approved a truce proposed by Egypt which calls for a de-escalation after 6:00 GMT today and a full truce within 12 hours thereafter.
    • Hamas responded that they had not been consulted by Egypt and vowed its attacks would "increase in ferocity and intensity".
    • Delegations from Israel and Palestinian factions are to hold talks in Cairo within 48 hours.
    • ETFs: EIS, ISRA
    | Jul. 15, 2014, 5:30 AM | Comment!
  • Jul. 10, 2014, 4:54 AM
    • Tensions are mounting in the Middle East, after Gaza militants fired new M-302 rockets deep into Israel, armed with a range of 93 miles. Israel has ramped up its air strike campaign as a result, targeting 486 militant positions including rocket-launching sites and military equipment and smuggling tunnels.
    • The newly acquired rockets put about two thirds of Israel's 8M people into Gaza's range of fire, increasing pressure to neutralize any threats.
    • ETFs: EIS, ISRA
    | Jul. 10, 2014, 4:54 AM | 7 Comments
  • Jul. 3, 2014, 6:46 AM
    • The escalating violence in Iraq and Syria is disrupting trade routes all across the Middle East, and reversing the region's past decade of growth. Supplies have either been either interrupted, or have needed to be re-routed, increasing costs in any scenario.
    • Economic difficulties are also hitting Turkey, as the country is Iraq's second biggest export market after Germany, with $12B of sales last year.
    • “There is no problem with our trade with Kurdistan but to get our trucks down to the rest of Iraqi territory will be very difficult,” says Serif Egeli, a Turkish businessman. “As long as there is no government in Baghdad, it is very difficult to go on with projects and if there are no projects, you can’t sell much more than textiles and food.”
    | Jul. 3, 2014, 6:46 AM | 2 Comments
  • Feb. 25, 2014, 3:31 AM
    • The Bank of Israel has unexpectedly lowered its benchmark interest rate by a quarter of a percentage point to 0.75%, the first cut in five months.
    • The BOI cited lower-than-expected inflation, consumer pessimism and "disappointing" U.S. economic data.
    • "We are not yet close to a recession, but we're moving in that direction," said Rafi Melnick, a member of the BOI's monetary policy committee. "There was certainly the concern of unemployment developing." (PR)
    • The Tel Aviv 25 is flat.
    • ETFs: EIS, ISRA
    | Feb. 25, 2014, 3:31 AM | Comment!
  • Dec. 1, 2013, 2:23 AM
    • Fitch has affirmed Israel's rating at A, the sixth highest, and increased the country's outlook to positive, citing a falling deficit.
    • "The new government has turned around the fiscal position and is committed to a credible medium-term program for further deficit reduction," Fitch said. (PR)
    • ETFs: EIS, ISRA
    | Dec. 1, 2013, 2:23 AM | 2 Comments
  • Aug. 27, 2013, 11:07 AM
    • ETFs focused on Middle East stocks are down across the board as the situation in Syria escalates. After John Kerry accused the regime of using chemical weapons on Monday, President Obama may begin laying the groundwork for strikes by releasing intelligence evidence to the public as soon as later today.
    • Middle East: MES -2.9%, GULF -2%, GAF -1.6%
    • Israel: EIS -3.3%, ISRA -2.4%, ISL -2.7%
    • Turkey: TUR -5.7%
    | Aug. 27, 2013, 11:07 AM | Comment!
  • Jun. 26, 2013, 9:58 AM
    Market Vectors debuts the Israel ETF (ISRA) today. The fund will track the BlueStar Israel Global Index and has an expense ratio of 0.59% vs. 0.60% for the iShares MSCI Israel ETF (EIS).
    | Jun. 26, 2013, 9:58 AM | Comment!
ISRA Description
The Market Vectors Israel ETF seeks to replicate as closely as possible, before fees and expenses, the total return performance of the BlueStar Israel Global Index. The Index is a rules-based index intended to track the overall performance of publicly traded companies that are generally considered by the Indexer to be Israeli and Israeli-linked companies. It primarily includes the largest and most liquid companies as well as mid-cap and small-cap companies that display sufficient liquidity.
See more details on sponsor's website
Country: Israel
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