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iShares MSCI Canada ETF (EWC)

  • Sep. 4, 2013, 10:22 AM
    • As expected, the bank leaves its benchmark overnight rate at 1%. The "dynamic" of global expansion has moderated, goes the statement.
    • "Uncertain global economic conditions appear to be delaying the anticipated rotation of demand in Canada towards exports and investment."
    • The loonie is trading a bit stronger than before the announcement and buying $0.9530. FXC +0.15%.
    • Canada ETFs: EWC, FCAN, CNDA, EWCS, CNPF, CAD.
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  • Aug. 30, 2013, 9:10 AM
    • June GDP contracted by 0.5% against expectations for -0.4% and +0.2% in May. For all of Q2, GDP grew at an annualized pace of 1.7% vs. 2% expected and 2.2% (revised from 2.5%) in Q1.
    • The loonie (FXC) adds about 15 pips on this seriously aged data, now unchanged on the session and buying $0.9494.
    • Canada ETFs: EWC, FCAN, CNDA, EWCS, CNPF, CAD.
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  • Aug. 16, 2013, 1:06 PM
    • Screening for income ETPs to 1) Hold up against a rising yield curve 2) Offer dividend income 3) Exhibit low volatility, Ned Davis' Neil Leeson pulls up several MLP funds, a few international stock ETFs, and a private-equity tracker.
    • MLPs include YMLI, AMU, MLPY.
    • The private-equity find is the PowerShares Global Listed Private Equity Portfolio (PSP).
    • The international funds include Canada (EWC), U.K. (EWU), and the iShares Global Energy ETF (IXC).
    • The quick take is these exchange one set of risks for another, writes Brendan Conway - unlike bonds, each of these funds got crushed (or would have been crushed if it existed) during the financial crisis.
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  • Jul. 30, 2013, 3:17 PM
    • Canada's investors and economy will feel the sting from the potash bombshell out of Russia, at least in the short term, CIBC's chief economist says.
    • Potash production in Canada accounts for 0.5% of GDP and ~1.5% of Canadian exports; a drop of 25% in volumes this quarter - not unreasonable, as buyers wait and see how low prices go - would mean a 0.4% annualized drop in Q3 GDP. (EWC -1.2%)
    • Potash (POT -16.6%) shares already were facing pressure from weakening prices, leading it to cut its earnings outlook just last week.
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  • Jul. 17, 2013, 10:12 AM
    The Bank of Canada maintains its benchmark lending rate at 1% following the first policy meeting headed by new Governor Stephen Poloz. The statement leans dovish, noting inflation has been low and is "expected to remain subdued." The loonie (FXC -0.5%) takes a sizable dip, now buying $0.9615. Canadian stocks (EWC +0.3%) gain in early trade. Poloz's press conference is set for 11:15 ET.
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  • Jun. 28, 2013, 2:12 PM
    iShares MSCI Canada ETF (EWC) announces semi-annual distribution of $0.3035. 30-Day SEC yield of 2.15% (as of 05/31/2013). For shareholders of record July 01. Payable July 05. Ex-div date June 27.
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  • Jun. 7, 2013, 8:51 AM
    The jobs action is in Canada where May payrolls jumped 95K, the best month of job creation in a decade and flying past expectations for 15K. The unemployment rate fell to 7.1% from 7.2%. The loonie (FXC) jumps 0.6% to $0.9798. We'll keep an eye on stocks in Toronto (EWC) as Canadian equities have been underperformers this year thanks to weakness in commodity prices.
  • Jun. 3, 2013, 9:52 AM
    Canada's RBC PMI for May jumps to 53.2 - it's strongest pace in 11 months, and up from 50.1 in April. New Order growth hit an 11-month high, Output moved into expansion territory for the first time in 3 months, Job Creation is at its strongest since August, and Backlogs went into expansion for the first time in 8 months. The loonie (FXC) is flat and buying $0.9647. Stocks: EWC +0.6%, but it's been an underperformed this year, off 1.8% as resource prices and the loonie slide.
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  • May. 8, 2013, 2:52 PM
    The recent selloff in commodities (DBC) is not a correction, says Stan Druckenmiller, now on stage at Ira Sohn, but instead the end of the supercycle. Avoid commodity markets - Brazil (EWZ, BRF, BRL), South Africa (EZA, SZR), Canada (EWC, FXC). "Frankly, I'd short the aussie (FXA)." His largest equity holding? "I can't imagine a better position than Google (GOOG)" - selling for 16x earnings and no exposure to China.
  • Apr. 24, 2013, 8:55 AM
    Cautious on Canadian stocks of late, Desjardins Capital's Ed Sollbach is taking advantage of the TSX's 7.3% decline over the last 6 weeks to put money to work, particularly in the materials and energy sectors hard-hit be the big decline in commodity prices. EWC has underperformed the S&P 500 by nearly 1,700 bps YTD.
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  • Apr. 15, 2013, 10:02 AM
    Underperforming today as commodities (DBC -1.7%) take a beating is Canada, the TSX -1.5%. Also seeing little love is the loonie (FXC -0.6%). The move in the MSCI Canada Index ETF (EWC -2.4%) reflects both the loss in shares and the currency. EWC is now off 5% YTD, trailing the S&P 500 by 1500 basis points.
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  • Apr. 3, 2013, 5:33 PM
    A new CIBC report estimates Canada lost $25B in unrealized revenues last year and will continue to lose $15B/year going forward until it addresses its inability to efficiently get its oil to foreign markets. Most critical is building a controversial pipeline to the British Columbia coast to get oil to Asia; Shell today submitted plans to build a $4B pipeline and gas export terminal at Kitimat to environmental regulators.
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  • Apr. 3, 2013, 12:14 PM
    Todays' selloff in commodities has Canada underperforming again, the TSX -1.4% and now about flat on the year vs. a near 10% gain for the S&P 500. Canada - as represented by EWC - and the U.S. have been on divergent paths since late in 2011, with the S&P outperforming by about 3400 basis points since then.
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  • Mar. 8, 2013, 8:53 AM
    Canada adds 51K jobs in February, smoking expectations for a gain of 8K, and against January's loss of 21.9K. The unemployment rate remained at 7% as more entered the job force (opposite of the U.S.). The greenback is higher against everything this morning ... except the loonie (FXC), which gains 0.3% to $0.9743.
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  • Feb. 7, 2013, 4:02 PM
    A look beneath the hood of Schwab's (SCHW) recently unveiled lineup of 105 commission-free ETFs shows an impressive breadth of asset class coverage, including currency, physical metals and equal-weight sector ETFs not previously available for commission-free trading. Notably absent: iShares single country funds, 10 of which are available among the 101 ETFs TD Ameritrade (AMTD) offers commission-free.
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  • Feb. 1, 2013, 11:44 AM
    Canada's January PMI edges up to 50.5 from 50.4 previously, with Production notable by moving into expansion territory after contracting the past two months. Employment stayed above 50, but fell to its slowest rate of expansion in a year. Help may be on the way - after spending much of the last few months buying more than $1, the loonie has fallen back to parity with the greenback.
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EWC Description
The iShares MSCI Canada 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 Canadian market, as measured by the MSCI Canada Index.
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Country: Canada
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