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iShares MSCI Spain Capped ETF (EWP)

  • Mar. 13, 2014, 4:11 AM
    • Retail sales in Spain have provided more evidence that the country's recovery is taking hold, with the figure rising 0.5% on year in January after dropping 1% in December and easily topping forecasts for a fall of 0.8%.
    • The IBEX 35 (EWP) is +0.25%. (PR)
    | Comment!
  • Mar. 10, 2014, 4:40 AM
    • French industrial output fell 0.2% on month in January vs -0.6% in December and missed consensus for a rise of 0.2%. (PR)
    • Spanish production rose 1.1% on year, although that was down from 2.2% previously and below forecasts of 1.8%. (PR)
    • The CAC 40 is +0.6% while the IBEX 35 is +0.9%.
    • ETFs: EWQ, EWP
    | Comment!
  • Feb. 28, 2014, 6:54 AM
    • Spain has started the privatization of its holding in Bankia (BNKXF) by selling a 7.5% stake for €1.3B ($1.78B) to institutional investors at a price of €1.51 per share.
    • Bankia was nationalized in 2012 after receiving €22.4B in EU bailout funds following massive losses on real-estate loans.
    • The state still owns 60.89% in the bank.
    • ETF: EWP
    | Comment!
  • Feb. 14, 2014, 3:48 AM
    • Spanish CPI tumbled 1.3% on month in January, as expected, after rising 0.1% in December.
    • On year, inflation +0.2% last month vs +0.3% previously.
    • Harmonized CPI -1.8% on month vs unchanged; on year, HICP held steady at +0.3%.
    • While the monthly drop is largely seasonal, the sizeof the fall may add to concerns about deflation in the eurozone (See German CPI)
    • The IBEX 35 is -0.1%.
    • (PR)
    • ETF: EWP
    | 1 Comment
  • Feb. 4, 2014, 3:44 AM
    • The number of unemployed people in Spain unexpectedly rose by 113,100 in January to 4.81M after a fall of 107,600 in December. Consensus was for a drop of 21,300.
    • However, the seasonally adjusted unemployment fell by 3,907 people, while the non-SA figure was the smallest in January since 2007.
    • The IBEX 35 (EWP) is -0.6%. (PR)
    | Comment!
  • Feb. 3, 2014, 4:25 AM
    • Eurozone manufacturing PMI increased to a 32-month high of 54 (flash 53.9) in January from 52.7 in December.
    • Germany led the expansion and Greek PMI returned to growth for the first time since August 2009, while Spain hit a 45-month high and France showed signs of stabilization
    • Improving new orders inflows and rising backlogs supported renewed job creation.
    • The data is consistent with GDP growth of 0.4-0.5% in Q1.
    • The euro is +0.1% vs the dollar. (PR)
  • Jan. 30, 2014, 3:09 AM
    • As expected, Spain's GDP growth strengthened to 0.3% on quarter in Q4 from 0.1% in Q3.
    • On year, GDP -0.1%, also in line, vs -1.2%.
    • IBEX 35 (EWP) -0.4%. (PR)
    | Comment!
  • Jan. 9, 2014, 7:07 AM
    | 1 Comment
  • Jan. 3, 2014, 3:19 AM
    • Spanish jobless claims dropped by 107,600 to 4.7M in December, the second-largest fall ever recorded after the June figure plummeted by over 127,000.
    • The decline in December was far greater than the drop of 2,500 in November and consensus of 24,300.
    • The improvement in unemployment adds to evidence that Spain is slowly digging itself out of its massive recession.
    • The IBEX 35 (EWP) is -0.15%, while the euro is -0.1% at $1.3653. (PR)
    | 1 Comment
  • Jan. 2, 2014, 4:19 AM
    • Eurozone manufacturing PMI increased to a 31-month high of 52.7 (as in the flash estimate) in December from 51.6 in November.
    • Rising output and fuller order books encouraged manufacturers to hold off from further job cuts, while new export orders again rose at a solid pace.
    • “A strengthening upturn in the manufacturing sector is helping the euro area recovery become firmly established," says Markit, adding that the latest data suggests Q4 production growth of 1%.
    • "The stage is set for a good start to 2014, during which it seems likely that the manufacturing sector will help drive a meaningful, albeit still modest recovery in the wider economy," Markit says.
    • Germany, Italy and Spain are seeing the strongest output growth since early 2011, although France "remains a concern" and is looking uncompetitive.
    • Euro Stoxx 50 index is -0.3%, while the euro is -0.2% at $1.3731. (PR)
    | Comment!
  • Dec. 13, 2013, 8:49 AM
    • Spanish stocks are off the highs but remain ahead by 0.4% on the session following Las Vegas Sands' reported decision to drop its massive project for suburban Madrid. The 10-12 year, $35B project was to include 12 casino resorts with 36K rooms, and was a key spoke in the government's plan to pull the economy out of its slump and lower the 26% unemployment rate.
    • The MSCI Spain Capped ETF (EWP) is up 26% Y/Y.
    | Comment!
  • Dec. 6, 2013, 2:55 AM
    • France's trade deficit narrowed to €4.7B in October from €5.6B in September and came in below consensus of €5B.
    • Exports slipped to €36.5B from €36.7B.
    • Imports declined to €41.2B from €42.5B.
    • The budget deficit widened to €86.05B from €80.80B.
    • CAC 40 futures (EWP) +0.5%.
    | Comment!
  • Dec. 5, 2013, 2:27 AM
    • Moody's has joined S&P and lifted its outlook on Spain to stable from negative.
    • Moody's cited three reasons for its decision: indications of a "sustained rebuilding" of the economy and an improved outlook for the medium term; a "material decrease" in risks to Spain's market access and to contagion from other parts of the eurozone; and a significant fall in contingent liabilities in the banking sector.
    • The agency affirmed its rating on Spain at Baa3.
    • S&P increased its outlook on Spain to stable from negative last week and reiterated the country's rating at BBB-, the lowest investment grade. (PR)
    • ETF: EWP
    | Comment!
  • Dec. 4, 2013, 3:26 AM
    • Spanish services PMI surprisingly moved into growth territory in November, rising to 51.5 from 49.6 in October and topping consensus that was also 49.6.
    • The increase comes after a fall in unemployment last month but is also in contrast to an unexpected contraction in manufacturing PMI.
    • The IBEX 35 (EWP) is +0.2%, while the euro is -0.05% at $1.3582. (PR)
    | Comment!
  • Dec. 3, 2013, 3:54 AM
    • The number of Spaniards filing for jobless benefits unexpectedly dropped for the first time in November on a monthly basis, falling by 2,475 to 4.81M.
    • The decline stands in contrast to a rise of 87,000 in October and consensus for an increase of 44,300 in November.
    • On year, the number dropped 98,909.
    • The IBEX 35 (EWP) is -0.3%. (PR)
  • Dec. 2, 2013, 3:29 AM
    • Spanish manufacturing PMI returned to contraction territory in November, dropping to 48.6 from 50.9 in October and missing consensus of 51.
    • The was a renewed decline in output and new business, while employment continued to fall sharply.
    • "The latest PMI survey highlights the current fragility of the Spanish manufacturing sector, with the domestic market the key source of weakness," Markit says. A rise in new export business wasn't enough to compensate.
    • The weak PMI figure comes after Spain exited a long recession in Q3 and S&P upgraded the country's outlook to stable.
    • The euro takes a dive from an earlier high but is still +0.1% at $1.36, while the IBEX 35 (EWP) is -1%. (PR)
    | Comment!
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EWP Description
The iShares MSCI Spain Capped Index Fund (the “Fund”) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Spain 25/50 Index (the “Underlying Index”).
See more details on sponsor's website
Country: Spain
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