Ishares MSCI United Kingdom Small Cap ETF (BATS: EWUS)

Ishares MSCI United Kingdom Small Cap ETF (BATS:EWUS), Quote.Headers.trade-ideas

Ishares MSCI United Kingdom Small Cap ETF

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The fund generally will invest at least 90% of its assets in the component securities of the underlying index and in investments that have economic characteristics that are substantially identical to the component securities of the underlying index. The index is designed to measure the performance of equity securities of small-capitalization companies in the United Kingdom (the U.K.) securities market.

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iShares MSCI United Kingdom Small-Cap ETF

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SPDR Dow Jones Industrial Average ETF Trust

EWUS

Market Vectors ETF Trust Market Vectors Gold Miners

MAGS

SAVE

S&amp;P 500 and Nasdaq 100 indices surged to new all-time highs on Friday, driven primarily by a rally in Magnificent Seven stocks, which collectively reached a market capitalization exceeding $16 trillion.

Magnificent 7 Stocks Propel S&amp;P 500, Nasdaq 100 To Record Highs As Jobs Data Fuels Rate Cut Bets; Gold Miners Rally: What&#39;s Driving Markets Friday?

Keir Starmer

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New leadership in the United Kingdom could make several sectors standout going forward. Here&#39;s what experts are saying after the election.

United Kingdom Stocks, ETFs To Watch After Keir Starmer, Labour Party Win

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	An investigation by the UK&#39;s Health Security Agency (UKHSA) found the Immensa laboratory to have misreported around 39,000 tests as negative when they should have been positive between September 2 and October 12, 2021.


COVID-19 Testing Lab In UK Misreported Several Positive Cases As Negative

S&amp;P 500 and Nasdaq 100 indices surged to new all-time highs on Friday, driven primarily by a rally in Magnificent Seven stocks, which collectively reached a market capitalization exceeding $16 trillion.
The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) increased by 1.4% on Friday, boosting its weekly gain to 7.7%, marking the strongest weekly performance <a href="https://www.google.com/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.benzinga.com/quote/MAGS&amp;ved=2ahUKEwjsreyntZCHAxU6hv0HHSFbDYUQFnoECBYQAQ&amp;usg=AOvVaw0qApwAlRjOLeb8gwVa_4Hr">since the fund&#8217;s inception.</a>
As mega-cap tech stocks attracted larger gains, blue-chip stocks held steady, while small caps fell. 
In June, the U.S. labor market showed signs of cooling despite a higher-than-expected increase in non-farm payrolls, due to previous downward revisions, a rise in the unemployment rate, and slower wage growth.
Economists have increasingly urged the Federal Reserve to initiate interest rate cuts, with September seen as the most likely starting point.
Traders quickly adjusted their expectations for rate cuts, assigning a 76% probability to a September move and now fully pricing in two rate cuts by the end of the year.
Treasury yields declined across the board, with the 2-year yield dropping by 7 basis points to 4.62%, and the 10-year yield falling by 6 basis points to 4.28%.
Gold prices advanced by 1.1%, fueling a rally in gold mining stocks, which outperformed other equity sectors on Friday. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) has surged nearly 7% over the last two sessions, marking its strongest two-day performance since early March.
In other markets, UK small-cap stocks, tracked by the iShares MSCI United Kingdom Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWUS#NYSE">EWUS</a>), rallied 1.4% following a landslide victory for the Labour Party in the legislative elections, ending 14 years of Conservative rule.
Cryptocurrency markets were volatile on Friday. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices hit an intraday low of $53,550 before recovering to $56,430.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,344.47</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,553.10</td>
<td>0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,250.89</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,020.45</td>
<td>-0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 3:05 PM ET</figcaption></figure>
According to<a href="http://Register URL:&nbsp;http://www.benzinga.com/pro/register/?utm_source=BZprocontent070524&amp;t=be2bearmibe3na1">&nbsp;Benzinga Pro&nbsp;data</a>:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.4% higher to $553.55.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was flat at $392.70.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.9% higher to $495.20.</li>
<li>Sector-wise, the&nbsp;Communication Services&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)&nbsp;outperformed, up by 1.4%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, falling 1.7%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) rallied 4.3%, marking the strongest daily performance since early February. </li>
<li>Chipmakers ARM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) rocketed 5.7% and 4.8%, respectively. </li>
<li>Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) rallied 8.8% after rumors that Arkhouse Management and Brigade Capital Management increased offers to buy Macy&#8217;s remaining ownership. </li>
<li>Airline stocks declined, with budget carriers suffering the most significant losses following downgrades on Friday due to weakening fare trends. Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) dropped 6.9%, Southwest Airlines Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) fell 4.5%, and United Airlines Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NYSE">UAL</a>) decreased by 3.2%.</li>
</ul>
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</ul>
Image created using artificial intelligence via Midjourney.

Magnificent 7 Stocks Propel S&P 500, Nasdaq 100 To Record Highs As Jobs Data Fuels Rate Cut Bets; Gold Miners Rally: What's Driving Markets Friday?

Labour Party member Keir Starmer is set to become the new prime minister of the United Kingdom with <a href="https://www.benzinga.com/news/24/07/39640147/keir-starmer-to-become-uk-prime-minister-as-labour-wins-big-over-rishi-sunaks-conservatives-mohamed">a win over the Rishi Sunak-led Conservative Party.</a>
The win marks an end to 14 years of Conservative Party control in the United Kingdom. The Labour Party will also have one of the largest majority government leads in the country in 25 years, as reported by CNN.
"A mandate like this comes with a great responsibility," Starmer said Friday. 
Starmer promised to put "country first, party second" in his victory speech.
UK Stocks &amp; ETFS: Gains for United Kingdom stocks and ETFs were minimal on Friday with the results of the election potentially priced in and others dissecting what the Labour Party in control means for certain sectors.
The iShares MSCI United Kingdom ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWU#NYSE">EWU</a>) is up 0.5% on Friday. The largest U.K. ETF has $2.8 billion in assets under management and holds 80 stocks representing <a href="https://www.benzinga.com/quote/EWU/news">the largest companies in the country</a>.
The top holdings are:
AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>)
Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>)
HSBC Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</a>)
Unilever PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>)
BP PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>)
RELX PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RELX#NYSE">RELX</a>)
GlaxoSmithKline PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>)
Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>)
Diageo PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>)
Glencore PLC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLNCY#OTC">GLNCY</a>)
Eight of the 10 largest holdings are up Friday at the time of writing, with HSBC and Rio Tinto trading lower.
The top weightings in the iShares ETF are the categories of financials (19.3%), consumer staples (16.4%) and energy (13.4%).
The Franklin FTSE United Kingdom ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLGB#NYSE">FLGB</a>) also offers exposure to the country with 107 holdings. The fund has all the same top 10 holdings as the iShares MSCI United Kingdom ETF, in a slightly different order and at smaller weightings. The ETF's largest categories are financials (19.5%), consumer staples (15.5%) and energy (14.4%).
Another ETF option is the iShares MSCI United Kingdom Small Cap ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/EWUS#BATS">EWUS</a>). The ETF holds 231 stocks and has smaller weightings for the small-cap components it holds. The top categories for the ETF are industrials (21.5%), financials (19.8%) and consumer discretionary (14.8%).
What Experts Are Saying: British private bank and wealth management company Coutts sees policy changes from the Labour Party leadership taking time to materialize.
"In terms of what this means for the U.K. population and our clients, we will closely monitor the developments of a Keir Starmer government and its potential impact on markets," Coutts Chief Investment Officer Fahad Kamal said.
Kamal said history shows U.K. elections don't tend to have a "long-term impact on markets."
The CIO said it could be "business as usual" for the United Kingdom. One item to closely monitor is falling inflation in the country and the potential for rate cuts soon, which could improve economic growth in the country, he said. 
RBC Capital analysts see the homebuilding sector in the United Kingdom benefitting with a Labour Party win, as reported by CNBC. The analysts said the new leadership and policy pledges could lead to a "new age" for homebuilding in the country.
"Over the last few years housebuilders' potential has been hamstrung, but over the next few this potential is likely to be unleashed," the RBC analysts said.
It is worth noting the iShares MSCI United Kingdom Small Cap ETF counts the real estate sector as its fourth-largest weighting at 12.3%, which could make the ETF stand out based on policy. The EWU and FLGB ETFs have 0.8% and 1.1% exposure to the real estate sector, respectively.
Allianz also sees opportunity in U.K. homebuilders with the Labour Party win and likely cuts to interest rates ahead. 
"We expect rules and regulations around planning permissions to be quickly relaxed by the incoming government," Allianz said.
Allianz also sees opportunity in U.K.-listed mining companies thanks to the electrification of the energy supply.
Citi has a preference for the FTSE 250 over the FTSE 100, preferring small to mid-cap sized companies over large caps, as reported by Investing.com.
"We see an improving balance of risks for UK SMID caps, which have underperformed, but are expected to have superior growth vs. large caps. SMID caps are also better positioned to benefit from rate cuts and a pick-up in dealmaking," Citi said.
Sectors like real estate and utilities were mentioned positively by Citi in the post-election comments.
Related Link:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39636949/british-pound-european-stocks-surge-ahead-of-uk-election-results-bitcoin-plummets-w">British Pound, European Stocks Surge Ahead Of UK Election Results; Bitcoin Plummets: What&#8217;s Driving Markets Thursday?</a></li>
</ul>
Photo via Shutterstock.

<ul>
<li>An investigation by the UK&#39;s Health Security Agency (UKHSA) found the Immensa laboratory to have misreported around 39,000 tests as negative when they should have been positive between September 2 and October 12, 2021.</li>
<li>The cause of the mistakes was the incorrect setting of the threshold levels for reporting positive and negative results of PCR samples for COVID-19, UKHSA said in a report after completing an investigation.</li>
<li>The UKHSA said the mistakes could have led to around 55,000 additional infections in areas where the false negatives were reported and may have resulted in the deaths of about 20 people.</li>
<li>Immensa Health Clinic was founded in May 2020 and has been awarded contracts worth &pound;170 million ($203.63 million) to process the results of PCR tests, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/world/uk/mistakes-uk-covid-testing-lab-may-have-led-deaths-20-people-2022-11-29/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported</a>.</li>
<li>&quot;Through this investigation, we have looked carefully at the arrangements in place for overseeing contracts of private labs providing surge testing during this time,&quot; said Richard Gleave, UKHSA director, and the lead investigator.</li>
<li>&quot;There was no single action that NHS Test and Trace could have taken differently to prevent this error from arising in the private laboratory. However, our report sets out clear recommendations to reduce the risk of incidents like this happening again.&quot;</li>
<li>Photo by Gerd Altmann from Pixabay</li>
</ul>

<ul>
<li>National Health Service (NHS) nurses will go on strike on December 15 and 20 after the government refused to meet demands for pay rises of 5% above inflation.</li>
<li>&quot;Nursing staff have had enough of being taken for granted, enough of low pay and unsafe staffing levels, enough of not being able to give our patients the care they deserve,&quot; Royal College of Nursing (RCN) General Secretary Pat Cullen said.</li>
<li>The RCN announced that nurses would go on strike for the first time in the union&#39;s 106-year history.</li>
<li>British Health Secretary Steve Barclay&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/world/uk/british-nurses-stage-first-strikes-dec-15-20-2022-11-25/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">said</a>&nbsp;the nurses&#39; demands would amount to a 19.2% pay rise costing &pound;10 billion a year and that the government would give them rises of at least 1,400 pounds each this year.</li>
<li>The RCN says experienced nurses are 20% worse off in real terms than in 2010 after a string of below-inflation pay awards and are seeking a pay rise of 5% above retail price index inflation.</li>
<li>Billy Palmer, at the Nuffield Trust health think-tank,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/world/uk/britain-nurses-prepare-unprecedented-strike-over-pay-2022-11-25/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">told</a>&nbsp;Reuters that those considering leaving &quot;often cite issues around not having enough staff to do a good job,&quot; but their departure further exacerbates the staffing problem.</li>
<li>Image by&nbsp;<a class="editor-rtfLink" href="https://pixabay.com/users/sasint-3639875/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1822458" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Sasin Tipchai</a>&nbsp;from&nbsp;<a class="editor-rtfLink" href="https://pixabay.com//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1822458" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Pixabay</a></li>
</ul>

Government

Britain Braces For First Nurse Strike In Over 100 Years; They Demand Higher Pay

After only 45 days in office, British Prime Minister Liz Truss <a href="https://www.benzinga.com/government/22/10/29340770/chaos-at-downing-street-liz-truss-resigns-with-the-shortest-tenure-of-any-uk-prime-minister">resigned her position</a> on Thursday, bringing even more chaos to the ongoing political crisis facing the UK.
Her tenure was marked by political and economic turmoil as most of her propositions &mdash;encapsulated in a mini-budget marked by tax cuts&mdash; failed dramatically, taking the country into a domestic financial crisis.
&ldquo;It is clear that parts of our mini-budget went further and faster than markets were expecting,&rdquo; <a href="https://www.benzinga.com/government/22/10/29271337/can-liz-truss-be-trusted-newly-appointed-pm-fires-treasury-chief-in-the-wake-of-volatile-markets">Truss had said last week</a>, as talks of her demission were already in place.
Now, with her stepping-down made official, the Conservative Party has committed to finding her replacement in just one week.
<h3>How (And When) Will The Conservative Party Pick A New Leader?</h3>
Graham Brady, chair of the Conservative Private Members&#39; Committee (also known as the 1922 Committee) said the party is expecting a new leader to be in place by Oct. 28.
Under normal circumstances, the selection process would involve Conservative lawmakers using secret ballots to select two top candidates that would then be voted upon by party members, which amount to about 150,000 British residents.
But now, with the British citizenry demanding quick action, Brady has said the party will need to set a very high threshold for the number of nominations from Conservative lawmakers that candidates will need to get in order to qualify, <a href="https://www.theguardian.com/politics/live/2022/oct/20/uk-politics-live-liz-truss-tories-turmoil-suella-braverman-resigns-fracking?filterKeyEvents=false&amp;page=with:block-635178318f08685084270f88#block-635178318f08685084270f88">reported</a> The Guardian.
Given that the party has 357 members of parliament, there can only be three nominees. But the case could be that only one gets to over 100 votes, which would immediately make that person prime minister. If there are two or more who reach this position, party members will be summoned to make the final call.
<h3>Who&rsquo;s In Line To Succeed Truss As Prime Minister?</h3>
While opposition leader Keir Starmer has <a href="https://www.theguardian.com/politics/2022/oct/20/keir-starmer-renews-call-for-immediate-general-election">called for an immediate general election</a> after Truss&rsquo; resignation, the Conservative Party&rsquo;s agenda is set on finding a new leader for its remaining time in office.
Jeremy Hunt, the new finance minister has ruled himself out from the role, as well as influential Tory veteran Michael Gove.
Though nominations have not been made official yet, possible contenders include former Chancellor Rishi Sunak and former Prime Minister Boris Johnson.
Penny Mordaunt, leader of the House of Commons and Defense Secretary Ben Wallace are also gaining popularity as unlikely underdogs.
Sunak is expected to run again, as he came in second in the leadership contest that followed Johnson&rsquo;s resignation and led to Truss&rsquo; term last summer.
Penny Mordaunt was an unlikely candidate that quickly rose to prominence in the summer contest, becoming the oddsmakers&rsquo; favorite. Her most powerful claim is a vivacious lack of association with Johnson and his cabinet that presents her as a &ldquo;fresh start&rdquo; to the party&rsquo;s stagnated leadership.
Boris Johnson himself could be a runner-up to take his old job back. The former PM&nbsp;<a href="https://www.benzinga.com/government/22/07/27986189/analysis-what-sped-boris-johnsons-fall-from-power-as-uk-prime-minister">left in scandal</a> after more than 50 ministers and aides, including Sunak, resigned after a series of moral accusations on a key ally of Johnson, as well as other scandals including an alleged mishandling of the COVID-19&nbsp;pandemic and&nbsp;<a href="http://www.benzinga.com/news/22/04/26607145/british-prime-minister-boris-johnson-slapped-with-fine-by-police-for-partying-during-covid-19-lockdo">breaking his own lockdown rules</a>.
Johnson still enjoys support amongst Conservative Party members. A <a href="https://yougov.co.uk/topics/politics/articles-reports/2022/10/18/most-tory-members-say-liz-truss-should-resign">quick poll</a> conducted on Thursday on 530 party members puts him as the top favorite candidate with 32% of votes, followed by Sunak with 23%.
Next off, with 10% of votes, comes Wallace, the current defense secretary. He is a former soldier who opposed Brexit and could also bring a much-needed air of freshness to the struggling Tory leadership.
Nominations will close at 2 pm (local time) on Monday.
<h3>Market&nbsp;Reaction</h3>
ETFs built around the British economy reacted favorably to Truss&rsquo; resignation. Her leadership proved to be a big failure to the country&rsquo;s economy, taking a toll on the British pound and the population&rsquo;s purchasing power.
iShares MSCI United Kingdom ETF (NYSEARCA: EWU), which follows the broader UK equity market, experienced a modest rally after the news was announced, but leveled down&nbsp;to close only 2 cents lower&nbsp;at $26.78 on Thursday. The smaller Franklin FTSE United Kingdom ETF (NYSEARCA: FLGB) had a similar performance, losing only 0.1% to end at $19.97.
iShares MSCI United Kingdom Small-Cap ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/ewus#BATS">EWUS</a>), providing exposure to 270 small-cap British companies was up 0.5%, closing Thursday&rsquo;s trading session at $26.41.
Shutterstock image.

Sector ETFs

What Happens After UK Prime Minister Liz Truss' Resignation: Could Boris Johnson Make A Comeback?

U.K. inflation accelerated more than expected in July to the highest level in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England.
The Office for National Statistics said that the&nbsp;<a class="editor-rtfLink" href="https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/july2022" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Consumer Prices Index rose 10.1% in July</a>&nbsp;from a year earlier after a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28127146/u-k-inflation-hits-fresh-40-year-high" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">9.4% gain the month before</a>.&nbsp;
The reading was higher than expected by the Bank of England and private-sector economists. Economists&#39; forecasts in a Reuters poll for inflation were to rise to 9.8% in July.
Rising food prices contributed the most to the month&#39;s increase, indicating inflationary pressures are spreading beyond energy.
Core inflation -- excluding energy, food, alcohol, and tobacco -- accelerated to 6.2%, increasing from 5.8% in June.
The Bank of England earlier this month raised its key interest rate by 0.5% to 1.75% - its first half-point rise since 1995. Its forecast inflation would peak at 13.3% in October,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/world/uk/uk-cpi-inflation-rate-rises-101-july-2022-08-17/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">writes Reuters</a>.
Data from the Office for National Statistics showed that prices rose 0.6% in July from June on a non-seasonally adjusted basis. The annual rate of retail price inflation hit 12.3%, its highest since March 1981.
<blockquote class="twitter-tweet">UK inflation out of control: CPI 10.1% Y/Y, EST. 9.8%. Up 9.4% in June. <a href="https://t.co/G88h3Lw9L4">pic.twitter.com/G88h3Lw9L4</a>
&mdash; Benzinga (@Benzinga) <a href="https://twitter.com/Benzinga/status/1559883909432852480?ref_src=twsrc%5Etfw">August 17, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Economics

ERUS

Market Vectors Russia ETF Trust Shares of Beneficial Interest

iShares Trust Barclays 20+ Year Treasury Bond Fund

UK Inflation Hits Double Digit, Highest In 40 Years

Bank Of England Leaves Bank Rate Unchanged At 0.1%

The Brexit blowback is far from over. On Tuesday, the International Monetary Fund trimmed its global growth forecasts for the next couple of years, citing uncertainty regarding the U.K.&rsquo;s departure from the European Union and its impact on the global economy.

	The new estimate implies 3.1 percent growth rate for 2016 and a 3.4 percent rate for 2017, down from a previous forecast of 3.2 percent and 3.5 percent, respectively.

	&quot;The Brexit vote implies a substantial increase in economic, political, and institutional uncertainty, which is projected to have negative macroeconomic consequences, especially in advanced European economies,&quot; the IMF&#39;s <a href="http://www.imf.org/external/pubs/ft/weo/2016/update/02/">World Economic Outlook Update said</a>.

	As one could expect, the British economy will be hit the hardest. The IMF now models 1.7 percent growth for this year, and 1.3 percent for next year, down from April&rsquo;s forecast of 1.9 percent and 2.2 percent, correspondingly.

	For the Euro area, the IMF boosted its forecast by 0.1 point this year, to 1.6 percent, but cut its 2017 estimate by 0.2 point, to 1.4 percent.

	&quot;Had it not been for Brexit, the IMF was prepared to leave its outlook for this year broadly unchanged as better-than-expected euro area performance offset disappointing U.S. first-quarter growth. The IMF also had been prepared to raise its outlook for 2017 slightly, by 0.1 percentage point, on the back of improved performance in a few big emerging markets, in particular Brazil and Russia,&quot; <a href="http://www.imf.org/en/News/Articles/2016/07/18/18/11/NA07192016%20IMF%20Cuts%20Global%20Growth%20Forecasts%20on%20Brexit%20Warns%20of%20Risks%20to%20Outlook">the IMF said</a>.

DBUK

DXPS

EUFX

QGBR

IMF Cuts Global Growth Forecast Citing Brexit Blowback

Defying the latest predictions and warnings, the U.K. has decided to leave the European Union, and the implications of such a decision will be huge, impacting almost every aspect of Brits&rsquo; lives, including their beloved football &mash; or "soccer" to those west of the pond!
Last week, Richard Scudamore, the executive chairman of the Premier League &mdash; the British football league &mdash; was on <a href="http://www.bbc.co.uk/programmes/p03ynrkk">BBC Radio 5 Live</a>, expanding why the League (unofficially) supported the &ldquo;Stay&rdquo; stance. According to Scudamore, being open to the world is critical to the success of the Premier League.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/fintech/16/06/8150477/how-the-brexit-will-affect-fintech-on-a-global-scale">How The Brexit Will Affect Fintech On A Global Scale</a></bzrelatedlink>
&ldquo;We do business around the world, we trade with the world,&rdquo; he explained. So, leaving the EU &ldquo;doesn&#39;t seem to sit very well when you travel the world like we do being welcomed because of the fact that we are open for business, open for discussion, and open for cooperation,&rdquo; he concluded.
<h3>The PL After The Brexit</h3>
Following the announcement that the &ldquo;Leave&rdquo; option had prevailed in the referendum, the Premier League issued a statement on Friday. While the organization assured that the League would continue to be largely successful and internationally appealing, they pointed out the &ldquo;uncertain nature of what the political and regulatory landscape might by following the &lsquo;Leave&rsquo; vote.&rdquo;
&ldquo;There is little point in second guessing the implications until there is greater clarity. Clearly, we will work with the government and other bodies whatever the outcome of any process,&rdquo; the League assured.
However, one thing is for sure: The way in which players are traded and taken to the U.K. will see some major changes. For instance, European ballers wanted on the Premier League will need a work permit in order to play, just like if they came from any other place on earth. Now, the thing is, getting a visa to work as a football player in the U.K. is not easy.
&ldquo;For example a non-EU player from a nation ranked inside FIFA&rsquo;s top 10 has to have played at least 30 percent of national team games in the two years prior to applying for a work permit to be able to play professionally in the UK. The lower ranked his national team, the higher percentage of games he has to play,&rdquo; an <a href="http://soccer.nbcsports.com/2016/06/24/what-does-uks-exit-from-eu-mean-for-the-premier-league/">NBC Sports</a> article explicated. This means that players like N&#39;Golo Kante, Dimitri Payet and Anthony Martial, would not be able to play in the Premier League under new regulations, even in spite of their EU passports &mdash; which enabled them to play when the U.K. was still a part of the Union.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/06/8150254/heres-how-the-brexit-could-impact-the-u-s-housing-market">Here's How The Brexit Could Impact The U.S. Housing Market</a></bzrelatedlink>
&quot;We&#39;re talking about half of the Premier League needing work permits,&rdquo; football agent Rachel Anderson stated recently. &quot;The short-term impact would be huge but you could argue it will help in the long term as it could force clubs to concentrate on home-grown talent,&rdquo; she continued.
Agreeing with Anderson, agent Simon Bayliff added, &quot;The downside could be the value of the Premier League decreasing, as its attraction is the collection of foreign stars across many clubs.&rdquo;
<h3>The Problem In Numbers</h3>
The <a href="http://www.bbc.com/sport/football/35919247">BBC</a> has calculated that, among the more than 400 EU players registered in the Premier League, up to 100 do not meet the requisites for a work permit, and thus, could become ineligible to play in the U.K. Furthermore, this figure rises to more than 430 if the English Championship and Scottish Championship are taken into account.
Of course, rules and parameters for work permits could change, or maybe, teams could start hiring only eligible players, becoming more attractive to foreign investors. Only time will tell; but, right now, fans are certainly worried.
	Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

Legal

Sports

Media

MANU

PowerShares ETF Leisure & Entertainment Port

Select Sector SPDR-Consumer Discretionary

Due To Brexit, Up To 100 Premier League Players Could Be Ineligible Next Season

Polls are one way to predict a Brexit, but how accurate are they at actually predicting the final result? The 2014 Scottish referendum was a somewhat similar vote to the Brexit involving a choice to stay within an organization of countries or leave and become more independent.

	The referendum, like the Brexit, threatened Scotland&#39;s trade deals with other nations. Additionally, there was significant nationalistic feeling that Scotland could do better on their own than pay London millions of pounds to handle governmental policies. Much like Scotland, Brexit campaigners had a similar nationalistic and independent feeling to many Scots in 2014.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/news/16/06/8144404/everything-you-need-to-know-about-the-brexit">Everything You Need To Know About The Brexit</a></bzrelatedlink>
<h3>
	Accuracy Of Polls</h3>

	The final result of the 2014 Scottish referendum resolved at 53.3 percent for stay and 44.7 percent for leav,&nbsp; which slightly leaned more towards stay than polling averages. The last Yougov poll, released after voting booths closed, indicated 54 percent for leave and 46 percent for stay giving an accurate view of actual results.
<h3>
	Projected Brexit Results</h3>

	A similar poll to YouGov&#39;s Scotland Referendum poll reported 52 percent remain, 48 percent leave at 5 p.m. ET Thursday. If the closing Brexit YouGov Poll had the same accuracy it did for the Scottish Referendum, actual Brexit voting results will be less than 1 percent off of the YouGov Poll. This would mean the Brexit vote would resolve at remain.

Using Scotland's 2014 Independence Vote To Gain Insight On Brexit Vote And YouGov Closing Poll

Voters in Britain are deciding the fate of the country's membership within the European Union in a vote dubbed "Brexit" Thursday.
Billionaire investor George Soros <a href="http://www.benzinga.com/markets/eurozone/16/06/8134027/george-soros-on-brexit-the-only-winners-will-be-speculators">cautioned against</a> a vote to leave the European Union, a view that was also shared by <a href="http://www.benzinga.com/media/cnbc/16/06/8130234/blackrock-ceo-larry-fink-talks-brexit-fears">BlackRock's CEO Larry Fink</a> and even the <a href="http://www.benzinga.com/news/16/06/8131176/john-oliver-blasts-brexit-supporters-we-would-all-be-batsh-t-crazy-if-we-vote-for">British-born comedian John Oliver.</a>
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/news/16/06/8144404/everything-you-need-to-know-about-the-brexit">Everything You Need To Know About The Brexit</a></bzrelatedlink>
Despite the large degree of uncertainty over the vote, not to mention complete uncertainty over what will happen to Britain's economic future, U.S. stocks were surging on Thursday &mdash; a complete reversal from the popular notion that fear and uncertainty are bad for the markets.
The UK's main index, the FTSE 100, gained 1.23 percent during its trading session on Thursday.
<h3>Has The Stay Side Already Won?</h3>
It appears market participants are under the assumption that the "stay" vote has already won, and any and all the uncertainties under a "leave" outcome no longer need to be discussed.
Polls out of Britain were confirming investor sentiment and calling for a "stay" victory. If this is the case, the new question investors and traders need to ask is if there will be large amounts of "sell the news" when the voting is finalized and tallied.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/06/8138204/brexit-has-been-a-bane-for-these-etfs">Brexit Has Been A Bane For These ETFs</a></bzrelatedlink>
There is no doubt that the Brexit vote has been one of the most talked about events that could shape the markets over the past few months. 
The coming days will show if the Brexit fades into a distant memory and investor attention is yet again glued to the Federal Reserve.
Or, maybe the "leave" side will emerge victorious and investors and traders will need to re-examine their investment outlook &mdash; and quickly, as the markets have had a habit of turning nasty throughout 2016.
<h3>A Few ETFs</h3>
<ul>
<li>iShares Trust (NYSE: <a class="ticker" href="/stock/ewu#NYSE">EWU</a>) is currently up 1.92 percent on the day, trading at $16.42.
</li><li>SPDR S&amp;P 600 ETF Trust (NYSE: <a class="ticker" href="/stock/spy#NYSE">SPY</a>): up 0.97 percent at $210.04.
</li><li>Wisdom Tree Trust (NASDAQ: <a class="ticker" href="/stock/dxps#NASDAQ">DXPS</a>): up 1.22 percent at $23.99.
</li><li>Ishares MSCI United Kingdom Small Cap ETF (BATS: EWUS): up 2.43 percent at $40.10. 
</li></ul>

Currency ETFs

Movers

Has The Market Already Decided Brexit Isn't Happening?

Brexit, the hottest speculative topic of the week now that Cleveland beat Golden State, is expected to resolve after U.K. polling stations close at 5 p.m. Eastern Time Thursday. The final result should be known after all the votes are tallied by Friday morning.
In order to predict the probability of a Brexit effectively, polls and betting markets tend to be among the most accurate resources publicized.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/06/8133904/linkedin-users-are-scared-of-a-possible-brexit">LinkedIn Users Are Scared Of A Possible Brexit</a></bzrelatedlink>
<h3>
	Polls</h3>

	Polls have been split over June, however there seems to be a trend where larger sample sizes indicate a larger leave vote. The following polls are from Financial Times&rsquo; <a href="https://ig.ft.com/sites/brexit-polling/">Poll Tracker</a>:
Smaller Polls (Notable Mid-June Polls &lt;1,200 sample size):
<ul>
<li>
		6/19: ORB 800 sample: 46 percent leave, 53 percent remain</li>
<li>
		6/19: Survation 1,004 sample: 42 percent leave, 45 percent remain</li>
<li>
		6/15: Survation 1,104 sample: 45 percent leave, 42 percent remain</li>
<li>
		6/15: Survation 1,064 sample: 43 percent leave, 46 percent remain</li>
</ul>
Larger Polls (Larger Polls In Mid-June):
<ul>
<li>
		6/19: Yougov 1,652 sample: 44 percent leave, 42 percent remain</li>
<li>
		6/17: Yougov 1,694 sample: 44 percent leave, 42 percent remain</li>
<li>
		6/17: Opinion 2,006 sample: 44 percent leave, 44 percent remain</li>
<li>
		6/17: YouGov 1,734 sample: 43 percent leave, 44 percent remain</li>
</ul>
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/markets/eurozone/16/06/8134027/george-soros-on-brexit-the-only-winners-will-be-speculators">George Soros On Brexit: The Only Winners Will Be Speculators</a></bzrelatedlink>
The fact that two out of the latest three polls are smaller polls could cause inaccurate public predictions on betting markets if speculators don&rsquo;t take into consideration the threat of inaccuracy due to smaller sample size. Another factor to take into consideration is YouGov&rsquo;s consistency in a field of great discrepancies between polls could be displaying YouGov&rsquo;s superior accuracy in its polling.
<h3>Prediction Markets</h3>
Additionally, an Investor can gain valuable insights from public betting markets. Results from <a href="https://www.predictit.org/Contract/784/Will-the-UK-vote-to-leave-the-EU-by-year-end-2016#data">Predictit.com</a>, a prominent political betting website in the United States are shown below.
At the time of writing, speculators believed there was a 25 percent probability of Brexit by year-end 2016 and the actual voting brackets are speculated as followed:
<img alt="" src="/files/u99985/brexit_prices.png" style="width: 450px; height: 388px;" />
As seen above, prediction markets were currently deviating from polling numbers. Perhaps speculators believe Jo Cox&rsquo;s death and Soros&rsquo; <a href="http://www.benzinga.com/markets/eurozone/16/06/8134027/george-soros-on-brexit-the-only-winners-will-be-speculators">warning </a>of &ldquo;Brexit Black Friday&rdquo; have not been fully reflected in polls.
Find the more detailed Brexit market data <a href="https://www.predictit.org/Market/2229/What-will-the-voting-margin-be-in-the-UK-vote-to-leave-the-EU">here</a>.

Crowdsourcing

Your Resources To Predict Brexit: Polling And Betting Markets Explained

Recently, European Central Bank (ECB) policymaker Jens Weidmann said the strategy of printing money was not the solution to the eurozone crisis. (Source: Carrel, P., &ldquo;Printing money not the way out of crisis: ECB&rsquo;s Weidmann,&rdquo; Yahoo! Finance, November 20, 2013.) Ya, no joke!

	Of course, Weidmann was not referring to the <a data-mce-href="http://www.investmentcontrarians.com/federal-reserve/" href="http://www.investmentcontrarians.com/federal-reserve/" target="_blank">Federal Reserve</a>, but to thoughts from within the ECB that perhaps buying assets was another tool to use. He may as well be talking about the Federal Reserve&rsquo;s quantitative easing strategy, though. I&rsquo;m sure he&rsquo;s been looking at the Federal Reserve&rsquo;s massive money printing and its overall ineffectiveness; he&rsquo;s likely studying the U.S. situation and realizing that the act of simply printing money is not the end-all for achieving success in rebuilding an economy.

	There&rsquo;s that old saying that you learn from other people&rsquo;s mistakes&mdash;that&rsquo;s what we have here.

	The Federal Reserve continues to balk at stopping the money printing. Current Federal Reserve Chairman Ben Bernanke expressed his disappointment in the recent jobs market readings in a recent speech, saying there were insufficient reasons to stop the quantitative easing.

	Also Read: <a data-mce-href="http://www.investmentcontrarians.com/nyse-2013-stock-market-holidays/" href="http://www.investmentcontrarians.com/nyse-2013-stock-market-holidays/">NYSE Holidays 2014</a>

	Five years of quantitative easing by the Federal Reserve and, while it clearly helped the country from a much deeper recession and breakdown, the benefits are stalling.

	So I say to Weidmann, fight against the use of quantitative easing via printing money in the eurozone, as it will simply cost the eurozone hundreds of billions of euros and would likely do very little for the economy. The already historically record-low interest rates in the eurozone will suffice.

	The same thing should be the case on this side of the Atlantic. We already have interest rates at record lows; that should be sufficient to allow consumers and businesses to borrow, spend, and drive the economic renewal.

	In other words, the Federal Reserve should begin to rein in its bond buying in December, or at the latest, at the January Federal Open Market Committee (FOMC) meeting. Its impact on the economy is not that significant at this point, so let&rsquo;s begin to taper. Of course, the Federal Reserve will likely reject this idea. Expected to take over as head of the Federal Reserve in January, Janet Yellen is even more dovish than Bernanke&mdash;and that is scary.

	The ECB is finally out of its second recession since 2008. Things are beginning to look better, but it will take time. Printing money is not the answer.

	As an investor, I would begin to look at Europe for some investment opportunities through exchange-traded funds (ETFs) as the region comes out of its recession. You could consider playing small-cap European companies, such as WisdomTree Europe SmallCap Dividend (NYSE: <a class="ticker" href="/stock/dfe#NYSE">DFE</a>), a small-cap rebound play in Europe. These investments should perform well as the economy recovers.

	Alternatively, to play the region&rsquo;s two top economies, you could take a look at iShares MSCI Germany Small-Cap (NYSE: <a class="ticker" href="/stock/ewgs#NYSE">EWGS</a>) and iShares MSCI United Kingdom Small-Cap (NYSE: <a class="ticker" href="/stock/ewus#NYSE">EWUS</a>).

	This article <a data-mce-href="http://www.investmentcontrarians.com/recession/ecb-calling-u-s-out-on-its-qe-mistakes/3329/" href="http://www.investmentcontrarians.com/recession/ecb-calling-u-s-out-on-its-qe-mistakes/3329/" target="_blank">ECB Calling U.S. Out on Its QE Mistakes</a> was originally published at <a data-mce-href="http://www.investmentcontrarians.com/" href="http://www.investmentcontrarians.com/" target="_blank">Investment Contrarians</a>

Forex

Federal Reserve

WisdomTree Trust WisdomTree Europe SmallCap Dividend

EWGS

ECB Calling U.S. Out on Its QE Mistakes

This is not a case of home country bias or another crazy American spouting off about how great the U.S. is, but when it comes to dividends, no country is on par with the U.S. Recent data published by ETF sponsor WisdomTree show how dominant the U.S. on the dividend front.

	As of May 31, the U.S. accounted for 31.1 percent of the WisdomTree Global Dividend Index with a dividend stream in dollar terms of almost $340 billion, <a href="http://www.wisdomtree.com/resource-library/documents/schwartzcommentary/WT-Research-Commentary-07-10-13-58.pdf">the data show</a>. Nearly 1,330 U.S. companies are currently featured in that index. The good news for investors looking for some international dividend exposure is that a familiar country represents a credible payout destination.

	The U.K. occupies the second spot in the WisdomTree Global Dividend Index with 278 companies accounting for 9.9 percent of the index. Those firms had a combined dividend stream of nearly $107.6 billion for the period ending May 31, according to WisdomTree.

	Even if one adds up the dividend stream of <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/07/3757195/patience-required-with-emerging-markets-etfs">the best emerging markets dividend destinations</a>, those countries lag the U.K. "We believe that the UK is a real standout, occupying the second position behind only the United States. In fact, if you were to add the Dividend Streams of constituents from China, Russia, Brazil, Taiwan and Malaysia (the top five emerging market country contributors to the global 
	Dividend Stream), they still would not exceed the United Kingdom's Dividend Stream," according to WisdomTree.

	Despite the size of the U.K. economy, the world's sixth-largest last year, there is a scant number of U.K. ETFs listed in the U.S. for investors to consider. The $2.3 billion iShares MSCI United Kingdom ETF (NYSE: <a class="ticker" href="/stock/ewu#NYSE">EWU</a>) is the established fund while the WisdomTree United Kingdom Hedged Equity Fund (NYSE: <a class="ticker" href="/stock/dxps#NYSE">DXPS</a>) is the new kid on the block. The iShares MSCI United Kingdom Small-Cap ETF (NYSE: <a class="ticker" href="/stock/ewus#NYSE">EWUS</a>) is the avenue for accessing U.K. small-caps.

	The list of the largest U.K. dividend payers includes familiar names such as HSBC (NYSE: <a class="ticker" href="/stock/hbc#NYSE">HBC</a>), BP (NYSE: <a class="ticker" href="/stock/bp#NYSE">BP</a>), Royal Dutch Shell (NYSE: RDS-A) and British American Tobacco (NYSE: <a class="ticker" href="/stock/bti#NYSE">BTI</a>). HSBC is EWU's largest individual holding at weight of 7.9 percent although two Shell securities combine for 8.3 percent of the ETF's weight. BP and British American Tobacco receive allocations of 5.2 percent and 3.87 percent, respectively.

	Those stocks combine for about 25 percent of the newly minted WisdomTree United Kingdom Hedged Equity Fund's weight. DXPS is not even a month old, but it does feature <a href="http://www.benzinga.com/markets/bonds/13/07/3739654/three-nifty-strong-dollar-etf-plays">the currency hedge mechanism</a> that has made the WisdomTree Japan Hedged Equity Fund (NYSE: <a class="ticker" href="/stock/dxj#NYSE">DXJ</a>) so popular.

	That is an important feature with DXPS on two levels. First, new Bank of England Governor Mark Carney is expected to engage in additional monetary easing, perhaps later this year. Second, some major British companies, including HSBC, BP and Shell set their dividends in dollars, not sterling.

	Not Perfect 
	Broadly speaking, as a dividend market, the U.K. is strong, but there are issues to consider. The trailing 12-month yield on EWU is just 2.94 percent. Additionally, dividend growth is expected to slow in the U.K. Second-quarter payouts there reached a record $38.6 billion, <a href="http://finance.yahoo.com/news/british-company-dividends-hit-record-232208352.html">Reuters reported</a>, citing Capita Registrars. Capita pared its full-year dividend growth target for the U.K. to 7.7 percent from 8.6 percent.

	"Dividends are not falling, they are merely growing more slowly, but slow enough for us to further trim our underlying forecast for the year," said the firm, according to Reuters.

	In the second quarter, media, financial services and food producers were among the best British dividend raisers. Call media and food producers consumer discretionary and consumer staples and there is over 24 percent of EWU's weight. Those two sectors combine for about 24.6 percent of DXPS. Financial services names are almost 22 percent of EWU and 17.7 of DXPS.

	British chemicals firms, sitting on impressive cash hoards, are expected to be new drivers of dividend growth, but utilities are expected to lag, <a href="http://blogs.wsj.com/moneybeat/2013/07/08/nice-economy-uk-shame-about-the-dividends/">the Wall Street Journal reported, citing Markit</a>. Materials and utilities combine for about 13 percent of EWU and 16.2 percent of DXPS.

	What is important to note with materials dividend growth in these ETFs is that BHP Billiton (NYSE: <a class="ticker" href="/stock/bhp#NYSE">BHP</a>), the world's largest mining company factors prominently into the equation. The company may be viewed as Australian, but its London listing makes it a top-10 holding in DXPS and the eleventh-largest holding in EWU. In dollar terms, BHP's dividend has nearly <a href="http://finance.yahoo.com/q/hp?s=BHP&amp;a=04&amp;b=29&amp;c=1987&amp;d=06&amp;e=22&amp;f=2013&amp;g=v">tripled since 2007</a>.

	Another possible source of future U.K, dividend growth that could benefit both of the ETF's mentioned here is BP. Europe's second-largest oil company by market value is <a href="http://www.benzinga.com/news/earnings/13/07/3742689/pivotal-earnings-season-ahead-for-energy-etfs">one of the non-U.S. oil companies</a> U.S. investors are most familiar and, arguably, for some negative reasons. Those negative reasons include the worst oil spill in U.S. history.

	When it comes to dividends, one way of looking at BP is to compare the company to a major U.S. bank. The firm played a part in an extraordinary event and was forced to slash its dividend. And as some major banks are doing in the post-financial crisis world, BP is now restoring its dividend. The payout was 84 cents a share per quarter before the spill and was then slashed in half. BP's dividend is now back to 54 cents per quarter, implying there could be significant growth ahead as the company tries to get back to pre-spill payout levels.

	For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Long Ideas

Short Ideas

Dividends

New ETFs

Events

WisdomTree Trust Japan Total Dividend Fund

Royal Dividends: U.K. ETFs May Have Dividend Allure

It may have flown under the radar on Tuesday what with the Fed news and stocks soaring to multi-year highs, but Total (NYSE: <a class="ticker" href="/stock/tot#NYSE">TOT</a>), Europe's third-largest oil company, said it's in discussions to do business in Iraq's oil-rich autonomous Kurdistan region. 

The French oil giant has <a href="http://www.benzinga.com/trading-ideas/long-ideas/11/12/2216586/exxon-may-not-want-it-but-gulf-keystone-could-have-several-su">has good reasons get involved in Kurdistan</a>. Actually, any oil giant does. The reasons are numerous as in 40 billion. That's right, by some estimates the Kurdistan region may be home to over 40 billion barrels of oil reserves.

And that's exactly why Exxon Mobil (NYSE: <a class="ticker" href="/stock/xom#NYSE">XOM</a>), the largest U.S. oil company, inked a Kurdistan exploration deal in October 2011.

Jokes about places ending in "stan" aside, Kurdistan is a legitimate oil prospect and for the indecisive among us, there are plenty of ETFs that are also worthy Kurdistan plays. 

iShares MSCI United Kingdom Small Cap Index Fund (NYSE: <a class="ticker" href="/stock/ewus#NYSE">EWUS</a>)
We're going to start the Kurdistan ETF play list with the iShares MSCI United Kingdom Small Cap Index Fund, a new ETF that is also a stretch play on the Kurdistan investment theme. There is one reason EWUS makes this list: An allocation, albeit small, to Gulf Keystone Petroleum, a British oil junior, that has already been the subject of takeover rumors due to its Kurdistan exposure. Potential suitors for Gulf Keystone Petroleum can be found in the iShares MSCI UK Index Fund (NYSE: <a class="ticker" href="/stock/ewu#NYSE">EWU</a>).

iShares S&amp;P Global Energy Sector Index Fund (NYSE: <a class="ticker" href="/stock/ixc#NYSE">IXC</a>)
The iShares S&amp;P Global Energy Sector Index Fund makes the list because of its combined allocation of more than 19% to Exxon and Total. IXC also features smaller weights to other Kurdistan players such as Chevron (NYSE: <a class="ticker" href="/stock/cvx#NYSE">CVX</a>) and Hess (NYSE: <a class="ticker" href="/stock/hes#NYSE">HES</a>), among others. When it comes to IXC, note that Royal Dutch Shell (NYSE: RDS-A), the largest European oil company and 4.5% of IXC's weight, pulled out of Kurdistan talks last year.

iShares MSCI Turkey Investable Market Index Fund (NYSE: <a class="ticker" href="/stock/tur#NYSE">TUR</a>)
The iShares MSCI Turkey Investable Market Index Fund has just a 5.1% weight to the energy sector, but a couple of the ETF's energy holdings do have Kurdistan footprints. In other words, Kurdistan probably won't move the needle much for TUR, but there are other <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/03/2405294/use-this-dip-to-consider-these-em-etfs-tur-scin-thd">reasons to be long this emerging markets ETF</a>.

Global X China Energy ETF (NYSE: <a class="ticker" href="/stock/chie#NYSE">CHIE</a>)
Sinopec (NYSE: <a class="ticker" href="/stock/snp#NYSE">SNP</a>), Asia's largest refiner and China's second-largest oil company, has a decent Kurdistan presence and it just so happens that stock is the largest holding in the Global X China Energy ETF, accounting for over 11% of the fund's weight. Enough said. 

EGShares Energy GEMS ETF (NYSE: <a class="ticker" href="/stock/ogem#NYSE">OGEM</a>)
Thinly traded, the EGShares Energy GEMS ETF is home to several Kurdistan players, but the one that's really intriguing is Mol Nyrt, Hungary's largest refiner. Apparently, Mol's Kurdistan story isn't yet fully appreciated as <a href="http://www.bloomberg.com/news/2012-03-14/mol-gains-a-sixth-day-as-wood-says-iraq-assets-aren-t-priced-in.html">Bloomberg reports</a>. That could mean more upside in the future for Mol and OGEM.

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