The XX Winter Olympic Games begin today in Turin, Italy. Expect the Italian economy to get a boost in the arm as it will be shown on millions of televisions around the world.
iShares MSCI Italy (EWI) is the only exchange traded fund representing the region. The largest holding, Eni – an energy company, is the official gas supplier for the flame in the cauldron, the torches that were carried across the country and the heating of the sports structures. Other top holdings include banks and telecommunications companies that will surely benefit from the increase in tourism. EWI continues to trade above its 200-day moving average.
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.