Canada ETF Rises Thanks to Higher Earnings and Oil Gain
August 4th 2007 at 7:58am by Tom Lydon
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.
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