It has been all quiet on the Netherlands front, so what’s going on with the related exchange traded fund (ETF)?
As of now, the Dutch government has set aside 7.5 billion euros ($11.6 billion USD) to invest into the energy supply between now and 2011. Top priority will be given to renewable energy, energy saving and CO2 reduction in an effort to lesson the country’s dependence on oil and gas, reports Yan Liang for China View.
The energy plan states that the government wants the country’s energy production to be cleaner and more diversified while remaining reliable and affordable. By 2020, the government wants 20% of energy consumed to be sustainable.
iShares MSCI Netherlands Index (EWN) does not hold any assets in energy. However, there is 29.6% in consumer goods, while Heineken has 3.4%. Will the ETF be saying "Cheers!" anytime soon? Apparently not, as the prospects for Heineken’s first half results are set for release in August, and will not be anything worth celebrating, since there are weak comparables and a tough economic climate.
But go ahead, and crack a cold one, as it may help the earnings better than not. Year-to-date, the fund is down 11.8%.
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.