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In Italy, regulators are currently working to configure a bad debt company of sorts to help Italian banks deal with a rising non-performing loan problem. Italy is part of EUFN’s geographic lineup. Earlier this year, Economy Minister Pier Carlo Padoan called a meeting in Rome with executives from Italy’s top financial institutions on Monday to hash out a plan for a state-backed fund to acquire bad loans and cover capital shortfalls, reports Silvia Aloisi for Reuters.
“This European Financials ETF has appeared to ride a rollercoaster of price action over the last four months. It will be an important index to watch through the summer months as the referendum for the United Kingdom exiting the European Union takes place. Financial and banking stocks in the U.K. make up nearly one-third of the portfolio holdings in EUFN,” adds See It Market.
iShares MSCI Europe Financials ETF