Last week, the Banca Monte dei Paschi di Siena stock briefly crossed into a bear market, and after a weekend press release warned of a potential capital shortfall of up to €1.7 billion, reports Paul J. Davies for the Wall Street Journal. Banca Monte dei Paschi is 2.5% of EWI’s weight.
Some investors are not waiting around to see how the results of the ECB stress tests affect EWI. Money has been flowing out of an array of U.S.-listed Europe ETFs, but the almost $110.1 million pulled from EWI this month looks particularly bad when considering investors have put new money to work in the iShares MSCI Germany ETF (NYSEArca: EWG) and the iShares MSCI France ETF (NYSEArca: EWQ). [Investors Flee Europe ETFs]
iShares MSCI Italy Capped ETF
ETF Trends editorial team contributed to this post.