Canada ETF Rises Thanks to Higher Earnings and Oil Gain

August 4th at 7:58am by Tom Lydon

Canada_etf Canada’s stocks and exchange traded fund (ETF) iShares MSCI Canada (EWC) have held up fairly well in the recent market correction. This week, two of EWC’s top holdings (Canadian Natural Resources at 3.2% and Barrick Gold at 2.3%) reported high earnings for the second quarter. Several financial companies reported higher-than-expected earnings as well, according to John Kipphoff for Bloomberg. Financial services make up 31% of EWC. This news along with record high oil prices helped EWC. This ETF is up 17.2% year-to-date.

Canada_etf_chart

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

Tickers

EWC