Despite Italy’s lagging economy, the Italy exchange traded fund (ETF) is on the up. The iShares MSCI Italy Index (EWI) is up 5.5% for the last month and 28% year-to-date. The ETF has holdings in the banking industry, energy, telecommunications and utilities. Although Italy’s debt and deficit are among the largest in the European Union, the fund has turned north and grown 123% since the decline between ’98 and 2003, reported by Alan R. Elliot of Investor’s Business Daily.
Italy’s world cup win didn’t stimulate the economy as anticipated by many observers, however, much economic restructuring is taking place at the moment to help with the deficit.
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.