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Friday, March 30, 2012, 9:48 AM Norway's $610B sovereign wealth fund, the gorilla in European equity investment, plans to cut its exposure to the continent to 41% from 54%, while raising its stakes in Asia and emerging markets. "They might be late," remarks Roger Nusbaum, "but what if they're early." 1 Comment [Global & FX]
Wednesday, March 28, 2012, 12:11 PM European shares closed sharply lower, led by Spain, as a decline that started in the States around 3 PM yesterday makes its way around the globe. Stoxx 50 -1.4%, Germany -1.1%, France -1.1%, Italy -0.3%, Spain -2%, U.K. -1%. Euro -0.2% at $1.3290. 1 Comment [Global & FX]
Tuesday, March 27, 2012, 12:03 PM European shares give up sizable early gains to close near session lows as debt crisis issues continue to poke their nose up in Spain. Stoxx 50 -0.7%, Germany flat, France -0.9%, Italy -0.8%, Spain -1.1%, U.K. -0.6%, Euro -0.2% to $1.3335. Comment! [Global & FX]
Monday, March 26, 2012, 12:05 PM European shares close mostly higher, given a boost midday by Bernanke's dovish speech. Spain was the exception after weekend elections dealt a blow to the country's ruling party and its austerity plans. Stoxx 50 +0.7%, Germany +1.2%, France +0.7%, Italy +0.8%, Spain -0.8%, U.K. +0.8%. Euro +0.4% to $1.3324. Comment! [Global & FX]
Friday, March 23, 2012, 12:43 PM European shares close mixed, but well of the day's worst levels, ending one of their worst weeks of the year as the whiff of sovereign debt issues creeps back into the conversation. Stoxx 50 -0.3%, Germany +0.2%, France +0.2%, Italy +0.2%, Spain -1%, U.K +0.2%. For the week, the Stoxx 50 lost 3.3%. Comment! [Global & FX]
Friday, March 23, 2012, 8:07 AM After opening higher, it's been a straight line down for European shares which now sit at session lows. Stoxx 50 -1.1%, led by Spain -1.5%. At this point, it's looking like the worst week of the year for shares across the pond, with the Stoxx 50 off about 4% from Monday morning. Comment! [Global & FX]
Friday, March 16, 2012, 9:29 AM The growth outlook for the eurozone has deteriorated over the past 3 months, says Ernst & Young in its Spring quarterly forecast, now expecting 2012 GDP to contract 0.5%. Among the individual countries, Ireland's GDP is expected to fall 0.1% against a previous forecast of +0.5%. (full report) 3 Comments [Global & FX]
Tuesday, March 13, 2012, 6:57 AM European shares, particularly Germany, move to new session highs following the big jump in economic sentiment. Stoxx 50 +1.1%, Germany +1.1%. Curiously for what has been a "risk" asset, the euro moves to session lows, -0.4% at $1.3110. Comment! [Global & FX, On the Move]
Monday, March 12, 2012, 11:07 AM While gasoline prices are percolating in the States, they haven't approached the $4.11 peak of July 2008 (granted, we haven't hit high summer demand yet). The same can't be said for Europe, where prices at the pump have taken out the record levels from that summer. 9 Comments [Global & FX, Energy, Commodities]
Tuesday, February 7, 2012, 8:07 AM "A wall of money was put in place," says the CIO of $668B BNP Paribas Asset Management, explaining why the fund began buying European shares after the ECB's December LTRO. "Three months ago we were very cautious ... now we are just cautious. It's time to be less defensive." Comment! [Global & FX, Quick Ideas]
Friday, February 3, 2012, 1:18 PM European shares close the week with gains, getting their big boost at 8:30 ET when the payroll report hit. Stoxx 50 +1.5%, Germany +1.6%, France +1.3%, Italy +1.5%, Spain +1.1%, U.K. +1.8%. Euro flat at $1.3140. Stoxx 50 +3.2% for the week, +9.3% YTD. Stolid Germany is up a cool 14.7% YTD. Comment! [Global & FX]
Tuesday, January 24, 2012, 11:30 AM A look at the change in the Italian yield curve over the last 7 weeks shows just how dramatic the ECB bazooka has been, writes Mike Riddell. Just because the bank's liquidity gusher doesn't solve any structural issues, doesn't mean it can be ignored (buy stocks, dummy). Bonds yields in the EU core, however, have a lot of room to go higher if economic/financial conditions settle down. 4 Comments [Global & FX]
Monday, January 23, 2012, 3:24 PM The positive action sucks in formerly bearish Michael Darda, now speaking of a "positive feedback loop" in Europe engineered by the ECB. "We no longer fear a return to the 2011 lows ... European large cap equities will outperform the S&P 500 ... even if the S&P 500 has a relatively good (2012)." 3 Comments [Global & FX]
Tuesday, January 17, 2012, 7:32 AM Formerly bearish on all things financial in Europe, CLSA's Chris Wood eyes rumors the ECB's LTRO on Feb. 29 could hit €1T (LTRO #1 was €489B) and reverses his view. He sees the euro continuing to sink, but EU financials wiping out the shorts in a "violent bear market rally." Comment! [Global & FX, Quick Ideas]
Friday, January 13, 2012, 9:17 AM Reuters adds to the rumors, saying its senior eurozone sources expect several downgrades of EU countries today, but Germany isn't one of them. Stoxx 50 now -0.6%, euro -0.9% at $1.2694 (a few hours ago, it was set to rise above $1.29). 1 Comment [Global & FX, On the Move, Breaking News]
Wednesday, January 11, 2012, 8:02 AM Merkel/Monti press conference: To send a signal to the markets, Merkel says Germany would be willing to pay more capital into the permanent EU rescue fund (ESM). Message received. European stocks trace out a "V," the Stoxx 50 now off just 0.3%. 1 Comment [Global & FX, Breaking News]

EZU iShares MSCI EMU Index ETF

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iShares MSCI EMU Index ETF