EWG includes a 2.6% tilt toward Munich Re, 2.6% to BMW and 6.0% to Daimler. DAX includes 3.0% Munich Re, 7.4% Daimler and 2.9% BMW. FGM holds 4.6% BMW and 3.6% Daimler.
Many anticipated increased volatility and uncertainty in the post-Brexit aftermath. However, with improving corporate earnings, better-than-expected U.S. data and fresh stimulus measures, European markets are beginning to calm and shift toward more bullish attitudes.
SEE MORE: Pummeled Europe Bank ETF Rallying Off Post-Brexit Lows
“No news from the economic side means investors have an eye on the company side,” Heinz-Gerd Sonnenschein, equity strategist at Deutsche Postbank AG, told Bloomberg. “The markets are stable. If you have an eye on the volatility markets, we’re at very low levels. We had Brexit, we had the banking problems coming out of Italy, but the markets are stable now.”
For more information on Germany, visit our Germany category.
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