ETF Trends
ETF Trends

An exchange traded fund that invests in Sweden was lower Friday after auto manufacturer Volvo said its second-quarter earnings and profit rose from the year-ago period.

Scania, the Swedish truckmaker controlled by Volkswagon, recently missed analysts estimates on second quarter profit, due to slower sales. The lower than anticipated results were blamed on slow tractor orders in Brazil, and the company is considered to have the best operating margin of the business in Sweden, reports Ola Kinnander for Bloomberg.

Scania is looking to merge with MAN SE in Germany, which would create Europe’s largest commercial vehicle manufacturer.

iShares MSCI Sweden (NYSEArca: EWD) holds Volvo at 6.7% while Scania is another component of the ETF. The fund is up about 2% year to date. [Sweden ETF Takes A Tumble.]

iShares MSCI Sweden


Tisha Guerrero contributed to this article.

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.