What Does Europe's 'Tilt Rightward' Really Mean And Is The FTSE Europe ETF Worth Buying Now?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 12 2024
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Source: Benzinga
- European Parliamentary Elections:
- Europe saw a rightward shift in parliamentary elections, with France calling for snap elections and dissatisfaction with German leaders.
- The Vanguard FTSE Europe VGK ETF is down post-elections, indicating investor caution after a significant price increase.
- Political Party Changes:
- The Identity and Democracy Group (ID) gained seats, challenging views on immigration.
- Right-wing parties like ECR and EPP maintained or slightly increased their presence.
- Left-leaning parties like S&D lost seats, while Greens and Renew parties saw significant losses.
- Implications of Election Results:
- Despite shifts, the previous coalition retains control, affecting policies on immigration and energy transition.
- There is a push for greater controls on migration and concerns over green initiatives' costs.
- France's Election Impact:
- Marine Le Pen's party secured a significant share of votes, raising speculation about potential outcomes in future elections.
- Macron called for snap elections, aiming to beat Le Pen in a run-off and form a strong coalition.
- Investment Insights:
- The elections marked changes in green energy focus and unity on the Ukraine war.
- Investors may consider peripheral Europe plays like Greece and Austria for investment opportunities.
Analyst Views on EWQ
Wall Street analysts forecast EWQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EWQ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 45.160
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Current: 45.160
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
