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iShares MSCI Germany Index ETF

6/20/2013, 2:37 AM ET

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Friday, May 31, 11:49 AM Deutsche Bank launches its Germany Hedged Equity Fund (DBGR) today, the first U.S. ETF allowing investment in that country's stock market while neutralizing exposure to changes in the euro/dollar exchange rate. The unhedged Germany Index Fund (EWG) is up 35% Y/Y. WisdomTree - whose hedged Japan fund has been a blockbuster success - is working on its own hedged German ETF. 1 Comment [Global & FX]
Wednesday, May 29, 9:11 AM Investors pulled money out of real estate yesterday, with the iShares Dow Jones U.S. Real Estate ETF (IYR) losing 4% of its AUM. Notably garnering assets yesterday were the Consumer Staples SPDR (XLP), the MSCI Germany ETF (EWG), and the Dow Jones U.S. Tech ETF (IYW) - each adding nearly 4%. The dip-buyers were out on the MSCI Japan (EWJ) and Japan Hedged Equity (DXJ) funds - they added nearly 2% in AUM. Comment!
Friday, May 24, 4:11 AM German Ifo index of business confidence rises to 105.7 in May from 104.4 in April and tops estimates of 104.5. Current conditions 110 vs 107.3 and 107.2. Expectations static at 101.6, as forecast. The euro (FXE) spikes vs the dollar is now +0.1% after being lower, while the DAX is +0.1%. Comment! [Global & FX, Top Stories]
Tuesday, May 14, 7:26 AM ZEW says its index of investor and analyst expectations crept up to 36.4 this month from 36.3 in April, missing economists' forecast of 40. The below-consensus reading was largely attributed to a generalized sense of anxiety regarding the economic situation in the eurozone as a whole, underscored by the ECB's recent rate cut. "The problem is that [Germany] seems to be the only big EU economy growing," notes a senior economist at Citigroup, quoted by Bloomberg. The DAX (EWG) is -0.19%. Comment! [Global & FX]
Tuesday, April 30, 6:57 AM The upgrades fly in for Deutsche Bank (DB) after it announced a capital raise yesterday and reported better-than-expected Q1 results. It's dilutive yes, but will also put the bank's balance sheet in a much stronger position. We've got Santander, RBC Capital, Nomura, JPMorgan, and Credit Suisse and the day's still young. Shares +5.7% premarket after yesterday's 3.7% gain. The Dax (EWG) is the only market in Europe in the green, +0.5%. Comment! [Financials, On the Move]
Tuesday, April 23, 5:35 AM European equities climb following mixed eurozone PMI data, with German shares just about brushing off poor PMI readings for the country, although the euro falls vs the dollar. EU Stoxx 50 +0.8%, London +0.5%, Paris +1.2%, Frankfurt +0.1%, Milan +0.7%, Madrid +1%. Euro -0.7% at $1.2979. 1 Comment [Global & FX, Top Stories, On the Move]
Monday, April 22, 10:02 AM WisdomTree (WETF) preps the launch of the Germany Hedged Equity Fund - designed to track the company's dividend-weighted index of German stocks while zeroing out currency fluctuations between the greenback and the euro. It's the same recipe the company put to work with Japanese stocks (DXJ) - a blockbuster success this year. Comment! [Financials]
Friday, April 19, 11:57 AM Europe closes mostly higher, notching gains to end a tough week, the Stoxx 50 (FEZ) +0.8%, but down more than 3% for the last 5 sessions. The hardest hit market is Germany, which couldn't managed a gain today (-0.2%) and fell nearly 5% on the week. Reasons are easy to make up after the fact, but the sharp devaluation of the yen isn't great news for European industry as a whole and the German export machine in particular. The German ETF (EWG) is now off 2.6% YTD. Comment! [Global & FX]
Wednesday, April 17, 10:17 AM Falling hardest today is Germany's DAX, -1.9% as rumors the country could lose its AAA rating make the rounds. Slumping eurozone auto sales certainly aren't helping either. EWG -3% as investors bid up the ETF in U.S. trade yesterday expecting a DAX rally today. 1 Comment [Global & FX]
Friday, April 5, 6:58 AM S&P 500 (SPY) futures slide 0.5% and Nasdaq 100 (QQQ) -0.5% ahead of this mornings non-farm payroll report. Europe is tumbling for a 2nd day, the Stoxx 50 (FEZ) -1.3%, led by Germany (EWG) -1.8%. 1 Comment [On the Move]
Tuesday, April 2, 4:05 AM German PMI slips to 49 in March (flash 48.9) from 50.3 in February. "A return to falling new order levels was the main factor behind the negative outturn," Markit says, while production volumes stalled. "Manufacturers cited heightened uncertainty about the economic outlook, especially across export markets within the euro area, as having curtailed client spending," Markit says. (PR) Comment! [Global & FX, Top Stories, Breaking News]
Friday, March 22, 5:10 AM Germany's Ifo Index of business confidence unexpectedly drops to 106.7 this month from 107.4 in February and vs consensus of 107.6. Current assessment 109.9 vs 110.2 and 110.4. Expectations 103.6 vs 104.6 and 104.9. The Dax immediately dives but quickly recovers to its previous level of -0.5%, while the euro also slides and is flat. Comment! [Global & FX, Top Stories, On the Move]
Thursday, March 21, 4:41 AM Flash German manufacturing PMI unexpectedly drops to 48.9 from 50.3 in February; manufacturing output 49.8 vs 50.7; services 51.6 vs 54.7, composite output 51 vs 53.3. The loss of output growth momentum was the greatest since the middle of 2011, says Market, while the survey doesn't take into account the impact of the Cyprus flair-up. The Dax and euro dive, and are -0.7% and -0.3% (vs the dollar) respectively. (PR) Comment! [Global & FX, Top Stories, On the Move]
Monday, March 18, 12:41 PM Europe closes lower, but recoups a big chunk of sharp early losses following the weekend plan to confiscate bank depositor money in Cyprus. Stoxx 50 (FEZ) -0.7%, led by Spain (EWP) -1.3%. Germany (EWG) fell 0.5%. The S&P 500 is now lower by just 0.3%. The Nasdaq turned green for a bit, now flat. 1 Comment
Wednesday, March 13, 7:40 AM Commerzbank (CRZBY.PK) tumbles 8.5% in Frankfurt after the bank sets a €2.5B capital raise to pay back the German government, which wants to cut its stake in the bailed-out lender to 20% from 25%. The Dax shuddered a bit yesterday on rumors of the action, and today -0.2%. EWG +2.5% YTD. Comment! [Financials, On the Move]
Tuesday, March 12, 11:25 AM Commerzbank (CRZBY.PK) is not commenting on market rumors it is preparing a capital raise of €700M-€800M. The chatter has sent the bank's shares 4% lower in Frankfurt and the DAX from a small gain to a 0.3% an hour before the close of trading. EWG -0.4%. Comment! [Financials]

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