iShares MSCI Spain ETF·Financial Services

European stocks are set to rise on Tuesday as investors brace themselves ahead of President Trump's deadline for Iran to open the Strait of Hormuz.

JPMorgan Chase and Co. grew its position in iShares MSCI Spain ETF (NYSEARCA:EWP) by 118.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,389 shares of the exchange traded fund's stock after acquiring an additional 40,867 shares

The central bank last month left its key interest rate unchanged at 2%, but set out a number of ways in which developments in the Iran War might affect the eurozone's economic outlook.

I have a "Buy" rating on the iShares MSCI Spain ETF due to compelling valuation and favorable seasonality. EWP trades at a low 13.2x P/E with a 10.2% EPS growth rate, yielding a PEG below 1.4x. The ETF is highly concentrated in Financials (42%) and Utilities, making up nearly two-thirds of the portfolio.

The European Commission proposes 17 laws to unite capital markets, backed by major economies.

The European Central Bank is determined to prevent any energy-driven inflation from broadening out, but it is too early to discuss dates for possible interest rate hikes, French central bank chief Francois Villeroy de Galhau told Italy's La Stampa newspaper.
The iShares MSCI Spain ETF seeks to track the investment results of an index composed of Spanish equities.
Financial Services
Asset Management
1996-03-18
1.02
Market Peers