European ETF Fell, Japanese ETF Rose after Warplane Is Downed

Sarah Sands
0

Geopolitical Turmoil Affects European and Japanese ETFs

European ETF fell by 0.25%

On Tuesday, November 24, 2015, the SPDR Euro STOXX 50 ETF (FEZ) closed at $35.58, which represents a 0.25% fall. On that day, at the time of market open, it fell nearly 1% after Turkey shot down a Russian fighter plane near the Syrian border. But before closing, it managed to recover some losses and fell 0.25% at closing.

Commodity prices are very sensitive to global turmoil. As we can see, the price of crude oil rose 3% on the November 24 after the warplane was shot down. The Russian economy vastly correlates to oil prices, because crude oil constitutes 68% of the country’s total exports in 2013, according to the EIA (U.S. Energy Information Administration).

Other global indexes

The Market Vectors Russia ETF (RSX), which is an important measure of Russia’s equity market, fell by 1.7% and closed at $17.27 on November 24. But the SPDR S&P 500 ETF (SPY) rose by 0.13% and closed at $209.35 on November 24.

The Energy Select Sector SPDR ETF (XLE) rose by 2.1% due to the 3% rise in crude oil prices. Energy stocks such as Exxon Mobil (XOM) and Chevron (CVX) rose 2% and 1.5%, respectively. The iShares MSCI All Country World Index (ACWI) closed marginally higher at $57.96.

Japanese ETF rose 0.48%

On Tuesday, November 24, 2015, the iShares MSCI Japan ETF (EWJ) closed on a positive note. It rose by 0.48% and closed at $12.62. On November 23, 2015, Japan’s flash manufacturing PMI (Purchasing Managers’ Index) data released. It stood at 52.8 for the month of November, compared to 52.4 for the month October. It showed that there were expansions of new orders and growth in business activity. Stocks of export-oriented companies such as Toyota Motor (TM), Honda Motor (HMC), and Sony (SNE) yielded positive returns.

In the next part of this series, we’ll look at the top performers of FEZ and EWJ and analyze their moving averages.

Continue to Next Part

Browse this series on Market Realist:

Advertisement

Recommended Stories

  • Jeff Bezos' Most Prized Possession Breaks Historical Auction Records At Almost $53 Million

    Jeff Bezos amassed his wealth through Amazon stocks and owns hundreds of millions of dollars worth of real estate, but one of his most valuable possessions may surprise you: art. Among his collection is the renowned piece "Hurting the Word Radio #2 (1964)" by Ed Ruscha, purchased by Bezos for almost $53 million. This artwork, a prime example of Ruscha’s text-based paintings, stands as a signature piece in Bezos’ collection. As concerns over stock market volatility persist, the world’s wealthiest

  • Warren Buffett's Latest $2.6 Billion Buy Brings His Total Investment in This Stock to More Than $77 Billion in Under 6 Years

    The Oracle of Omaha has purchased shares of his favorite stock for 23 consecutive quarters.

  • Anthropic now lets kids use its AI tech -- within limits

    AI startup Anthropic is changing its policies to allow minors to use its generative AI systems -- in certain circumstances, at least. Announced in a post on the company's official blog Friday, Anthropic will begin letting teens and preteens use third-party apps (but not its own apps, necessarily) powered by its AI models so long as the developers of those apps implement specific safety features and disclose to users which Anthropic technologies they're leveraging. In a support article, Anthropic lists several safety measures devs creating AI-powered apps for minors should include, like age verification systems, content moderation and filtering and educational resources on "safe and responsible" AI use for minors.

  • Bluesky now lets you personalize main Discover feed using new controls

    Bluesky is now allowing users to personalize their main Discover feeds. The social network is rolling out an updated version of its app that lets users offer feedback about its algorithmic feed so they can better customize it using "Show more like this" and "Show less like this" buttons in a post's menu to choose which content the algorithm surfaces. The change will help Bluesky users create a timeline that takes into consideration their own preferences, not what the company thinks they should see.

  • With Apple entering the fight, the AI chip wars have gone nuclear

    The AI PC chip wars are going nuclear as Apple officially joins the fight with its M4 processor.

  • I Finally Decided to Cut My Losses and Sell This Stock -- Here's Why

    This real estate technology company could be hit hard by a changing real estate market.

  • Palantir Stock (NYSE:PLTR): Should You Buy the Post-Earnings Dip?

    Palantir stock (NYSE:PLTR) dipped by about 16% after its Q1 earnings report, prompting me to ponder whether this downturn presents a buying opportunity. Notably, Palantir showcased yet another quarter of solid revenue growth, promising client base expansion, and strong profitability metrics. That said, concerns persist regarding the stock’s elevated valuation. Consequently, despite my belief in Palantir’s long-term prospects as a shareholder, I maintain a neutral stance towards the stock at pres

  • Stock Market News for May 10, 2024

    Wall Street closed sharply higher on Thursday, with interest rates still dominating the proceedings.

  • 3 Rock-Solid Dividend Stocks That Are Ideal for Retirees

    These are low-risk stocks with high yields.

  • Tesla’s Autopilot caused a fiery crash into a tree, killing a Colorado man, lawsuit says

    The widow of a man who died after his Tesla veered off the road and crashed into a tree while he was using its partially automated driving system is suing the carmaker, claiming its marketing of the technology is dangerously misleading. The Autopilot system prevented Hans Von Ohain from being able to keep his Model 3 Tesla on a Colorado road in 2022, according to the lawsuit filed by Nora Bass in state court on May 3. Von Ohain died after the car hit a tree and burst into flames, but a passenger was able to escape, the suit says.