Britain’s new Prime Minister David Cameron took office yesterday and marked the end of decades of liberal rule in the country. He’s got his work cut out for him as he works to bring two dueling parties together. One major order of business is reducing Britain’s high unemployment rate of 2.5 million people now seeking work, reports John F. Burns for The New York Times. [Is the U.K. ETF on the Right Path?]
The United Kingdom ETF has struggled like most European-focused ETFs year-to-date. It’s down nearly 8% in that time. So far, the British market has greeted the new ruling party with yawns, sending stocks and the British pound lower. The markets there are waiting for more details about how the government plans to tackle the big issues before it reacts. [Euro ETFs: Out of the Woods?]
For more stories about Britain, visit our EWU category.
- iShares MSCI United Kingdom (NYSEArca: EWU)
- CurrencyShares British Pound Sterling (NYSEArca: FXB)
Read the disclaimer; Tom Lydon is a board member of Rydex|SGI.
