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iShares MSCI Spain Capped ETF (EWP)

- NYSEARCA
  • Fri, Aug. 21, 12:19 PM
    • The Stoxx 50 (NYSEARCA:FEZ) tumbled another 3.2% today, bringing its loss to the week to roughly 7%. The gauge is off nearly 12% in just the handful of sessions since August 10, but still  up more than 3% YTD.
    • Leading today's decline was France (NYSEARCA:EWQ) down 3.2%, Germany (NYSEARCA:EWG-2.95%, Spain (NYSEARCA:EWP-3%, Italy (NYSEARCA:EWI-2.8%, U.K. (NYSEARCA:EWU-2.8%.
    • The FTSE 100 is now off 5.5% YTD, and Germany's DAX is down 3.6%.
    • ETFs: VGK, FEZ, HEDJ, IEV, EPV, EZU, FEU, EEA, EURL, FEP, UPV, DBEU, ADRU, HEZU, FEEU, IEUR, FIEU, DBEZ, FEUZ, SBEU, HFEZ, HGEU
    | 7 Comments
  • Thu, Aug. 20, 12:23 PM
    • 2.2% decline in today's session leaves Europe's Stoxx 50 (NYSEARCA:FEZnearly 10% lower than it stood ten days ago, and within about 2% of taking out the lows hit in early July amid the height of the Grexit panic.
    • Earlier, Greek PM Tspiras announced plans to step down and hold snap elections on Sept. 20 as he's been unable to get enough support from his own party for the country's latest bailout deal.
    • Germany's DAX (NYSEARCA:EWG) fell 2.3% today, and is off more than 10% since major trading partner China devalued the yuan.
    • France (NYSEARCA:EWQ) -2.1%, Italy (NYSEARCA:EWI-2.6%, Spain (NYSEARCA:EWP-1.8%, U.K. (NYSEARCA:EWU-0.6%.
    • ETFs: VGK, FEZ, HEDJ, IEV, EPV, EZU, FEU, EEA, EURL, FEP, UPV, DBEU, ADRU, HEZU, FEEU, IEUR, FIEU, DBEZ, FEUZ, SBEU, HFEZ, HGEU
    | 3 Comments
  • Wed, Aug. 12, 7:25 AM
    • China was forced to intervene to support the tumbling yuan overnight, and at day's end set Wednesday's reference rate for the currency based on its closing level today. In the past, Beijing had ignored market moves and set the reference rate higher on days when markets sold it lower.
    • Last night's move is thus - more or less - a 2nd devaluation of the currency (really a freeing up of the currency). The yuan is now lower by 2.8% since Monday's close.
    • The bottom line is that Europe now has competition in the weak currency business - something its shaky economy probably doesn't need at the moment.
    • The Stoxx 50 (NYSEARCA:FEZ) is lower by 2.3%, bringing its losses for the week to about 4%. Germany (NYSEARCA:EWG) is down 2.4%, France (NYSEARCA:EWQ2.3%, Spain (NYSEARCA:EWP1.6%, Italy (NYSEARCA:EWI2%, and the U.K. 1.2%.
    • The euro (NYSEARCA:FXE) is up 1% vs. the dollar to $1.1151.
    • ETFs: FXE, VGK, EUO, FEZ, HEDJ, ERO, IEV, EPV, EZU, DRR, FEU, EEA, EUFX, EURL, ULE, FEP, UPV, DBEU, URR, ADRU, HEZU, FEEU, IEUR, FIEU, DBEZ, FEUZ, SBEU, HGEU, HFEZ
    | 12 Comments
  • Mon, Jul. 27, 12:11 PM
    • Getting a chance to react to the rough Friday afternoon action in the U.S. as well as the 8.5% plunge in China overnight, Europe's Stoxx 50 (NYSEARCA:FEZ) closes Monday with a 2.35% loss. The broad gauge remains higher  by 12% for the year.
    • Germany (NYSEARCA:EWG) and France (NYSEARCA:EWQ) fell 2.5%, Italy (NYSEARCA:EWI3%, Spain (NYSEARCA:EWP1.4%, and the U.K. (NYSEARCA:EWU1.1%. The Athens Stock Exchange looks set to reopen tomorrow. GREK -3.5%
    • ETFs: VGK, FEZ, HEDJ, IEV, EPV, EZU, FEU, EEA, EURL, FEP, UPV, DBEU, ADRU, HEZU, FEEU, IEUR, FIEU, DBEZ, FEUZ, SBEU, HFEZ, HGEU
    | 2 Comments
  • Tue, Jul. 7, 10:42 AM
    • Greek government officials arrived at today's meeting of European finance ministers without a new proposal, according to the FT, shocking the group and angering some in the room.
    • One Eurogroup source says Greece instead will present its latest gambit tomorrow directly to the Troika. Another source says the Greek officials presented an outline of a plan to the Eurogroup, but written materials were still being worked on. A Greek official says his government presented the same plan from last week that's already been rejected.
    • In any case, the eurocrats don't seem pleased. Europe has taken a new leg down, led by France's (NYSEARCA:EWQ1.5% decline. Germany (NYSEARCA:EWG) is off 1.4%, Italy (NYSEARCA:EWI) and Spain (NYSEARCA:EWP1.3%. The Stoxx 50 (FEZ -2.4%). Greece ETF (GREK -4.6%), National Bank of Greece (NBG -7.8%).
    • The euro (NYSEARCA:FXE) is lower by 1% to $1.0942.
    • Previously: Europe can't hold gains (July 7)
    | 125 Comments
  • Tue, Jun. 30, 10:54 AM
    • Up nearly 1% earlier, the Stoxx 50 (NYSEARCA:FEZ) has turned lower by 0.6% less than an hour before the close.
    • The Stoxx 50 shed 4.25% yesterday, led by Italy's 5%+ decline.
    • The Eurogroup has set 1ET as a time for a conference call, at which Greece's latest proposal will be discussed.
    • Not too badly dinged yesterday, the U.K.'s (NYSEARCA:EWU) 1% loss is leading on the way down today. Germany (NYSEARCA:EWG) -0.6%, France (NYSEARCA:EWQ) -0.8%, Itay (NYSEARCA:EWI-0.1%, Spain (NYSEARCA:EWP) -0.2%.
    • Athens remains closed for business, but the Greek ETF (GREK +5.1%) and National Bank of Greece (NBG +9.4%) are up sharply.
    • ETFs: VGK, FEZ, HEDJ, IEV, EPV, EZU, FEU, EEA, EURL, FEP, UPV, DBEU, ADRU, HEZU, FEEU, IEUR, FIEU, DBEZ, FEUZ, SBEU, HFEZ
    | 16 Comments
  • Mon, Jun. 29, 7:45 AM
    • The Stoxx 50 (NYSEARCA:FEZ) is near session lows, down 3.7% after Greece over the weekend shut the banks and the stock market, and imposed capital controls.
    • A referendum next Sunday is likely to determine the country's fate, with a "yes" vote meaning the fall of the current government, allowing a new government to cut a deal with the country's creditors. A "no" vote likely means Grexit.
    • Italy (NYSEARCA:EWI) is off 4.1%, Spain (NYSEARCA:EWP3.9%, France (NYSEARCA:EWQ3.6%, Germany (NYSEARCA:EWG) 3.3%, U.K. (NYSEARCA:EWU1.8%.
    • Previously: Rates plunge on Greece gets ready to default (June 29)
    • ETFs: VGK, FEZ, HEDJ, IEV, EPV, EZU, FEU, EEA, EURL, FEP, UPV, DBEU, ADRU, HEZU, FEEU, IEUR, FIEU, DBEZ, FEUZ, SBEU, HFEZ
    | 3 Comments
  • Mon, Jun. 15, 7:36 AM
    • A divergence in the direction of bond yields is at work again today, with money flowing into the fixed-income markets of the U.S. and Germany, and out of Spain, Italy, Portugal and Greece.
    • The move comes as discussions over the weekend between Greece and its creditors last only a few minutes before collapsing.
    • 10-year yields in Spain and Italy are each higher by ten basis points, while 10-year yields in the U.S.and Germany both slip a few. At 2.32% and 2.37%, respectively, yields in Italy and Spain are about equal to the 2.36% in the U.S. They had been significantly lower than than of the U.S. for a number of months.
    • Spain's IBEX 35 (NYSEARCA:EWP) is down 1.4% and Italy's FTSE MIB (NYSEARCA:EWI) is off 1.9%.
    • ETFs: EU, BUNL, BUNT, GGOV
    | Comment!
  • Fri, Jun. 12, 9:57 AM
    • The bond rout of the past few weeks has been notable for its correlation. The bond markets of putative solid credits like Germany and the U.S. were hit as hard or even harder than those of countries like Spain and Italy.
    • Potentially worrisome in today's action: Yields are flat to lower in Germany and the U.S. while moving sharply higher in the peripheral countries.
    • The 10-year U.S. Treasury yield is down 1 bp to 2.37% and the 10-year German Bund yield is lower by 3 bps to 0.86%. Meanwhile, the Spanish 10-year yield is up 18 bps to 2.31%, and Italy up 12 bps to 2.26%.
    • This is happening as another Greek default and then possible EU exit got more likely with the IMF technical team's return to D.C. yesterday, and investors may not want to be holding the paper of the next countries in line should anything adverse happen over the weekend.
    • Spain's IBEX 35 (NYSEARCA:EWP) is lower by 1.3%, and Italy's FTSE MIB (NYSEARCA:EWIby 1.5%. Elsewhere in Europe, Germany (NYSEARCA:EWG) is down 1.5% and France (NYSEARCA:EWQ) is down 1.7%. FEZ -2.2%, GREK -4.1%, NBG -7%
    • ETFs: VGK, FEZ, HEDJ, IEV, EU, EPV, EZU, FEU, EEA, EURL, FEP, UPV, DBEU, BUNL, ADRU, HEZU, FEEU, IEUR, BUNT, GGOV, FIEU, DBEZ, FEUZ, SBEU
    | Comment!
  • Wed, May 27, 10:35 AM
    | 12 Comments
  • Tue, May 26, 1:38 PM
    • "The previous two-party regime is looking now more like a four-party contest," says Deutsche's Jim Reid, after the ruling People's Party was drubbed in weekend elections, amid gains for the anti-austerity Podemos Party (a Spanish Syriza).
    • Podemos-backed activist Ada Colau was elected mayor of Barcelona, while a Podemos coalition looks set to take power in Madrid after 24 years of rule by the People's Party.
    • A national election is due by year's end.
    • The IBEX 35's two-day loss this week has topped 3%.
    • EWP -4.1%
    | Comment!
  • Tue, May 19, 11:57 AM
    • It was only this morning when the rest of the world found out what those at an invitation-only conference in London learned last night - that the ECB will front-load its QE program.
    • ECB member Benoit Coeure spoke at the conference - organized by the Brevan Howard Centre for Financial Analysis, and featuring senior officials from at least five central banks - but his speech wasn't released to the general public until this morning.
    • European interest rates and the euro (FXE -1.4%) are headed south today, while European equities soar.
    • The Stoxx 50's (NYSEARCA:FEZ2% gain is being led by Germany (NYSEARCA:EWG+2.2%, Italy (NYSEARCA:EWI+2.2%, France (NYSEARCA:EWQ+2.1%, and Spain (NYSEARCA:EWP+1.4%.
    • ETFs: VGK, FEZ, HEDJ, IEV, EPV, EZU, FEU, EEA, EURL, FEP, UPV, DBEU, ADRU, HEZU, FEEU, IEUR, FIEU, DBEZ, FEUZ, SBEU
    | 3 Comments
  • Wed, Apr. 29, 1:59 PM
    | 14 Comments
  • Fri, Apr. 17, 7:36 AM
    • All the headlines say it's worry over Greece, but Europe was doing just fine in morning action until news hit about a big expansion in short-selling in China (after markets in China had closed for the session). Chinese futures have subsequently tumbled, and any China ETFs trading in the premarket are sharply lower despite gains in Shanghai overnight.
    • Germany (NYSEARCA:EWG-1.7%, France (NYSEARCA:EWQ) -1.2%, Italy (NYSEARCA:EWI-1.8%, Spain (NYSEARCA:EWP-1.8%, U.K. (NYSEARCA:EWU-0.75%. Stocks in Athens (NYSEARCA:GREK) are lower by 0.9%.
    • Previously: China allows big boost in short selling (April 17)
    • ETFs: VGK, FEZ, HEDJ, IEV, EPV, EZU, FEU, EURL, FEP, UPV, DBEU, ADRU, HEZU, FEEU, IEUR, FIEU, DBEZ, FEUZ, SBEU
    | Comment!
  • Thu, Mar. 12, 10:25 AM
    • What could go wrong? With the ECB's QE program getting underway, the yield on Spain's 10-year note fell all the way to 0.98% earlier in the session, though it's since bounced to 1.04%, down four basis points on the day.
    • It was less than three years ago when the 10-year yield was well north of 7%, but the concern now - with the ECB buying €60B per month in European paper -is that there isn't enough debt out there to purchase.
    • Earlier today, the ECB said it's bought about €10B worth of paper in QE's first three days.
    • Italian 10-year yields haven't yet dipped below 1%, but they're also at a record low of 1.03%.
    • EWP +0.6%, EWI +0.6%
    | Comment!
  • Thu, Mar. 5, 8:56 AM
    • As expected, the ECB lifts its EU GDP growth forecasts for 2015 and 2016 to 1.3% and 1,9%, respectively, but expects inflation to remain negative in the months ahead.
    • The €60B per month QE program of sovereign bond purchases is set to begin on Monday. It's expected to continue until the end of Sept. 2016, or until the central bank sees a sustained upward adjustment in the path of inflation.
    • Market reaction: The euro (NYSEARCA:FXE) is all over the place, but currently down 0.25%, and the Stoxx 50 (NYSEARCA:FEZ) is at session highs, up 0.9%. Peripheral bond yields are on the way down, with Spain's (NYSEARCA:EWP) 10-year lower by five basis points to 1.32%, and Italy's (NYSEARCA:EWI) also by five to 1.35%.
    • Previously: ECB stays on hold, press conference coming (March 5)
    • Previously: ECB to raise growth forecasts, lower inflation projections (March 5)
    | 2 Comments
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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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