How can better manners be an asset to the Spain-focused exchange traded fund (ETF)? Spain is seeking to end a dispute with Venezuela that began when Venezuela’s president Hugo Chavez repeatedly interrupted Spanish King Juan Carlos, who in turn told Chavez to "shut up." This occurred at a summit meeting in Chile last week. Later in the week, Chavez said he didn’t want to damage relations with Spain, but was thinking deeply about his country’s relations with the country.
In clarification, the Associated Press reports that all Spanish companies are going to be held more accountable and will be under scrutiny while they are in Venezuela. Most of the Latin American countries that attended the summit had support for Spain. While the dispute seems to be contained in Venezuela, iShares MSCI Spain Index (EWP) isn’t likely to feel immediate effects of this tiff. It is up 25.2% year-to-date.
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