Finland Tells Russia To Close Its Turku Consulate As Of Oct. 1
Portfolio Pulse from Benzinga Newsdesk
Finland has instructed Russia to close its consulate in Turku by October 1, according to Bloomberg. The move could potentially strain diplomatic relations between the two countries.
July 19, 2023 | 5:53 pm
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NEGATIVE IMPACT
The closure of Russia's consulate in Turku could potentially impact Finland's diplomatic relations with Russia, which may indirectly affect the iShares MSCI Finland ETF (EFNL).
The closure of the consulate could strain diplomatic relations between Finland and Russia. This could potentially lead to economic repercussions that may indirectly affect the performance of EFNL, which tracks the investment results of an index composed of Finnish equities.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The closure of Russia's consulate in Turku could potentially impact the Vanguard FTSE Europe ETF (VGK), given its exposure to European equities.
VGK tracks the performance of the FTSE Developed Europe Index, which includes European equities. Any geopolitical tensions in Europe, such as the closure of Russia's consulate in Finland, could potentially impact the performance of VGK.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
The closure of Russia's consulate in Turku is unlikely to have a significant impact on the SPDR S&P 500 ETF (SPY), given its broad exposure to the US market.
SPY tracks the S&P 500, which is a broad-based index of US equities. Therefore, geopolitical events in Finland are unlikely to have a significant impact on its performance.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 30