The iShares MSCI Spain Exchange Traded Fund (ETF) which is traded on the New York Stock Exchange (NYSE) and tracks companies such as Banco Santander and Telefonica has recently started to attract significant investment after traders have largely shunned Spain for the past four years.
A record $238 million has poured from the US into the Spanish ETF in the first quarter of 2014 and in general terms the ETF has attracted the most investment for any country since 2002 according to data compiled by Bloomberg. So far, in 2014 the ETF has gained 5.3% which compares very positively against the declines in the Standard & Poor’s 500 Index and the Stoxx Europe 600 Index.
The strong fiscal policy of Prime Minister Mariano Rajoy is considered responsible for the increased confidence in Spain’s economic future. Despite seeking a bank bailout for the country in 2012, there is mounting evidence that Spain is now at the base of a growth curve.
The benchmark Spanish equities index, IBEX 35 gained 70% from a nine year low in July 2012 through to mid-April 2014 with its companies adding €234 billion in market value during that time. A manufacturing report published at …read more
Source: Property show rooms