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iShares MSCI Italy Capped Index ETF

5/25/2013, 7:27 PM ET

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Wednesday, May 23, 2012, 8:43 AM Italian May consumer confidence falls to 86.5 from 88.8 previously, and against expectations for a rise to 90. It's the worst print since 1996. A gauge of unemployment expectations rises to 113 from 106. Milan -3%. Comment! [Global & FX]
Friday, May 18, 2012, 8:26 AM The ECB is playing a game of chicken - sitting on its hands to play tough with the Club Med states - but (along with the other major central banks) will "step in massively," says HSBC's David Bloom, and set off a powerful rally. Bob Janjuah agrees - "The Fed and the ECB will respond (soon) and trigger a short, sharp rally." 5 Comments [Global & FX]
Monday, May 14, 2012, 4:46 PM Moody's downgrades 26 Italian banks by one to four notches noting an economy back in recession, mounting asset quality challenges, and restricted access to funding markets. The ratings outlook for all of the affected banks remains negative. The euro slides another few pips to $1.2825. 4 Comments [Global & FX, Financials]
Thursday, May 10, 2012, 8:24 AM Italy's Unicredit reports a profit of €914M in Q1, beating expectations of €832.4M. Banking group deposits were higher by 2% and its core tier 1 capital ratio rises to 10.31%. A bit more ominous, lending for the retail bank fell 1.1% Q.Q. Shares +5.3% in Milan. Italy's MIB +1.3%. 1 Comment [Global & FX, Financials]
Monday, May 7, 2012, 3:51 PM Feeling its oats after the weekend elections, Italy's PDL - the largest party backing Mario Monti - calls on the PM to stop playing the role of "Germany's representative," and demands the EU fiscal compact be amended. "Monti has done nothing for growth," says their spokesman, a clear sign Monti's supporters are distancing themselves as Italy slides deeper into recession. Comment! [Global & FX]
Monday, May 7, 2012, 11:06 AM The most interesting market action following the weekend elections may be at least a one-day reversal of the 2012 trend of the S&P and German Dax outperformance. As German-dictated austerity takes a blow, shares here and in Frankfurt are in the red, while Paris, Madrid, and Milan are up 1.5-2.5%. 8 Comments [Global & FX]
Friday, May 4, 2012, 11:03 AM Perhaps what's really roiling markets today are weekend elections in France and Greece. Greece looks particularly ugly, with true economic collapse in Athens potentially paving the way for the neo-Nazi Golden Dawn party to take 5-6% of the vote (2009 election: 0.23%). The communists are polling at about the same. "Be very worried," says Credit Suisse. 13 Comments [Global & FX]
Thursday, May 3, 2012, 8:51 AM Alongside the surging euro are European equity markets giving up much of their big early gains as the early indication from Draghi's press conference is no new candy. Stoxx 50 +0.3%, after being up about 1.5% before the talk started. Comment! [On the Move, Global & FX]
Wednesday, May 2, 2012, 8:47 AM Banking shares are leading steep declines in the headline indices for Spain (3.2%) and Italy (2.7%). Santander (STD -6.7%) and BBVA (BBVA -6.7%) are both indicated at new 52-week lows in premarket activity. In Milan, Unicredit is suspended, -5.8%. Other EU banks: DB -4.3%, BCS -3.4%, CS -4.7%. Comment! [Global & FX, Financials]
Tuesday, May 1, 2012, 11:22 AM The ECB's liquidity blitz is feeding through to the money supply, writes Ambrose Evans-Pritchard, seeing a "glimmer of hope for the austerity wasteland" of the EU periphery. Don't get too excited though - M1 money supply isn't growing in the Club Med countries, it's just slowed its rate of decent. "Be thankful for small mercies." Comment! [Global & FX]
Monday, April 30, 2012, 8:24 AM Italian and Spanish banks put the ECB's LTRO #2 to good use, loading up on more of their government's debt - Italian lenders increasing their exposure by a record €23.7B to €323.9B, Spain by a near-record €20.1B to €263.3B. "The willingness to get further exposure is lowering," says an economist. What about LTRO #3? Comment! [Global & FX, Financials]
Wednesday, April 25, 2012, 10:21 AM The favorite to become France's next president, Francois Hollande says the EU fiscal compact will not be ratified by his country. Markets in Europe are up sharply, with Paris +2.3%. Take your pick: oversold bounce, Apple, Sarkozy to pull an upset, or just maybe the hope for a trashing of austerity policies that are choking much of the EU. Comment! [Global & FX]
Monday, April 23, 2012, 12:13 PM The Italian consumer confidence index plunges to 89 in April from 96.3 previously (and 96.2 expected). It's the lowest read for the series since it began in 1996. The drop looks to be a reversal of recent gains made amid optimism about the new government as the reality of its austerity program sets in. 1 Comment [Global & FX]
Monday, April 23, 2012, 7:34 AM The ECB can act in a "very forceful way" if needed, the bank's Ewald Nowotny tells CNBC, but now is not yet the time for another LTRO or assistance to Spain. Interest rates "are at a very low stage." Talk like this seems to encourage more selling of the periphery as markets seek out the ECB's "uncle" point. Comment! [Global & FX]
Sunday, April 22, 2012, 6:24 PM Stock index futures and the euro reflexively open lower following the French elections. One school of thought on Europe says the EU periphery isn't being punished because markets don't believe the austerity promises, but because they do believe the austerity promises. To the extent Hollande may lean against such policies, perhaps the situation will improve. S&P -0.2%, CAC 40 -0.3%, euro -0.2%. 6 Comments [Global & FX]
Friday, April 20, 2012, 2:49 PM It's increasingly up to domestic Spanish and Italian banks to buy their respective countries' sovereign debt as IMF data shows foreigners exiting both markets. Owning nearly 50%, foreign holders now account for just 36% of Spanish bond holdings. In Italy, it's dropped to 40% from 47%. 1 Comment [Global & FX]