U.K. Retail Sales (YoY) For November 0.1% Vs. -1.8% Est.; -2.5% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. retail sales in November showed a surprising uptick, coming in at 0.1% year-over-year against an expected -1.8%. This is a positive shift from the -2.5% (revised) reported previously.
December 22, 2023 | 7:23 am
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POSITIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may experience positive short-term movement due to better than expected U.K. retail sales data for November.
The iShares MSCI United Kingdom ETF (EWU) tracks the investment results of an index composed of U.K. equities. The positive retail sales data suggests a more robust U.K. economy than expected, which could lead to increased investor confidence in U.K.-based assets, including those held by EWU. This could result in a short-term increase in EWU's share price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75