iShares Inc iShares MSCI Brazil ETF (ARCA: EWZ)

Dernières nouvelles pour iShares Inc iShares MSCI Brazil ETF (ARCA:EWZ)

iShares Inc iShares MSCI Brazil ETF

iShares MSCI Brazil Capped Index Fund

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The Fund seeks to track the investment results of the MSCI Brazil 25/50 Index (the Underlying Index), which is a free float-adjusted market capitalization-weighted index that is designed to measure the performance of the large- and mid-capitalization segments of the equity market in Brazil. The Underlying Index is rebalanced quarterly using an optimization process that aims to minimize the constituent weight differences between the Underlying Index and the MSCI Brazil Index (the Parent Index). The Underlying Index uses a capping methodology that limits the weight of any single group entity (constituents that MSCI determines have a control relationship) to a maximum of 25% of the Underlying Index weight, and the sum of all group entities with a weight above 5% to an aggregate of 50% of the Underlying Index weight. A group entity is a group of companies that operate as an affiliated corporate group but may separately issue listed securities.

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iShares MSCI Brazil ETF

iShares MSCI Brazil Small-Cap ETF

Brazil&#8217;s currency, the real, has <a href="https://www.benzinga.com/topic/brazil">continued its plunge</a> as investors grow skeptical of President Luiz Inácio Lula da Silva&#8216;s budgetary plans.
The real, the worst-performing currency over the past four market sessions, has fallen over 3% against the US dollar in the past week. Its plunge against American currency is over 21% in the past year.
On Wednesday, Finance Minister Fernando Haddad told reporters that Brazil&#8217;s currency could be the victim of a &#8220;speculative attack,&#8221; Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-18/brazil-finance-chief-says-real-may-be-under-speculative-attack">reports</a>.
"There may be speculative attacks, but I don't want to make a judgment about that, because the Finance Ministry works with fundamentals," Haddad reportedly said. The currency fell even further following the minister&#8217;s remarks.
Investors are skeptical of Lula da Silva&#8217;s budget deficit reduction plan. A series of cost-cutting measures designed to cut 70 billion reais ($11.3 billion) from the country&#8217;s budget was marked up and approved by the lower house of the Brazilian legislature on Tuesday.
The plan, <a href="https://www.bloomberg.com/news/articles/2024-08-30/brazil-president-lula-set-to-unveil-unpopular-budget">unveiled</a> over the summer, did not find supporters from within Lula da Silva&#8217;s leftist political party nor from the financial markets.
Lula da Silva, who entered office in 2023, does not have broad support; <a href="https://www.pewresearch.org/global/2024/09/23/brazilians-views-of-lula-and-bolsonaro/">according</a> to Pew Research, 48% of Brazilians have a favorable view of the 79-year-old politician.
Brazilian equities, as tracked by the iShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>), fell by 6% on Wednesday. The benchmark is trading down over 34% in 2024.
Also Read:
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<li><a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025">Fed Slashes Interest Rates By 0.25% As Predicted: December Dot Plot Flags Only 2 Potential Cuts In 2025</a></li>
</ul>

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Brazilian Real Plunges As Investors Doubt President Lula's Budget Initiatives

Mexico's President Claudia Sheinbaum has announced a review of a controversial bill to ban <a target="_blank" href="https://www.benzinga.com/topic/mining" rel="noreferrer noopener">open-pit mining</a>. Congress approved the bill in July after debating balancing environmental protection with economic priorities.
"Open-pit mining warrants a thorough review, as activities such as sand extraction for cement production and lithium mining—critical for national development—are conducted using this method. It is vital to assess the specifics of the constitutional reform's provisions," Sheinbaum <a target="_blank" href="https://www.gob.mx/presidencia/articulos/version-estenografica-conferencia-de-prensa-de-la-presidenta-claudia-sheinbaum-pardo-del-6-de-diciembre-de-2024?idiom=es" rel="noreferrer noopener">said</a>.
Mexico's mining industry is a pillar of its economy, accounting for around 8% of its industrial GDP. In 2022, mining exports totaled $17.6 billion, generating a trade surplus of $12.8 billion. It directly employs over 370,000 workers and supports millions more in related industries such as logistics and equipment manufacturing.
Large operating open-pit mines include Newmont's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) Peñasquito and Southern Copper's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) Buenavista. The ban would likely stop the San Nicolás copper-zinc project, a 50-50 partnership between Teck Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>) and Agnico Eagle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>).
CAMIMEX, Mexico's primary mining chamber, warned that an outright ban could reduce GDP by 1% and threaten nearly 200,000 jobs. Open-pit mining accounts for 60% of the country's mining production value and is critical for extracting key resources like gold, silver, copper and strategic minerals like lithium.
Under former President Andrés Manuel López Obrador (AMLO), Mexico's mining sector faced heavy restrictions. In 2023, AMLO nationalized lithium, declaring it a strategic resource for Mexico's energy independence and banning new concessions for private companies.
He also established a state-run lithium company and canceled multiple existing concessions, triggering international arbitration disputes.
While the bill passed Congress during his administration, Sheinbaum took over in October, becoming the first female president.
Unlike AMLO, she faces economic difficulties at the beginning of her six-year term. Without foreign capital, it will be hard to provide quality jobs, education, and healthcare.
Meanwhile, El Salvador's President Nayib Bukele is pushing to go in the opposite direction. In 2017, his predecessor implemented a total mining ban to protect the country's water resources.
Still, Bukele, a famous Bitcoin advocate, claims that the untapped mineral reserves could transform the economy.
"We potentially have the largest gold deposits per square kilometer in the world," he <a target="_blank" href="https://x.com/nayibbukele/status/1865129919870578791" rel="noreferrer noopener">stated</a>, arguing that responsible mining could generate $131 billion—equal to 380% of the country's GDP—from just 4% of identified reserves. Earlier this year, Bukele secured the second term, winning 84.65% of popular votes. With control over Congress, lifting the ban seems inevitable.
However, in contrast to Mexico, El Salvador is a small country, largely dependent on the Lempa River as a primary water source. Any large-scale operations, particularly in the gold-rich north of the country, could pollute this water flow and cause more problems for what it is worth.
Read Next:
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<li><a href="https://www.benzinga.com/news/global/24/12/42475000/if-trump-starts-a-trade-war-canada-could-impose-export-taxes-on-oil-uranium-report" target="_blank" rel="noreferrer noopener">If Trump Starts A Trade War, Canada Could Impose Export Taxes On Oil, Uranium: Report</a></li>
</ul>
Photo via Shutterstock

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BATT

FLMX

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TECK

Mexico And El Salvador Ponder Different Mining Stances

Prime Minister Keir Starmer is seeking to meet with China&#39;s Xi Jinping at next week&#39;s Group of 20 summit in Rio de Janeiro, in what would be the first face-to-face encounter between British and Chinese leaders in almost seven years.&nbsp;
<a href="https://www.bloomberg.com/news/articles/2024-11-15/uk-s-starmer-seeks-xi-meeting-at-g-20-summit-in-rio-de-janeiro" title="https://www.bloomberg.com/news/articles/2024-11-15/uk-s-starmer-seeks-xi-meeting-at-g-20-summit-in-rio-de-janeiro">https://www.bloomberg.com/news/articles/2024-11-15/uk-s-starmer-seeks-xi-meeting-at-g-20-summit-in-rio-de-janeiro</a>

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General

'UK's Starmer Seeks Xi Meeting at G-20 Summit in Rio de Janeiro' - Bloomberg

<a href="https://www.reuters.com/technology/brazil-institute-sues-social-media-giants-525-million-over-excessive-use-by-2024-10-28/" title="https://www.reuters.com/technology/brazil-institute-sues-social-media-giants-525-million-over-excessive-use-by-2024-10-28/">https://www.reuters.com/technology/brazil-institute-sues-social-media-giants-525-million-over-excessive-use-by-2024-10-28/</a>

Legal

Reported Earlier, 'Brazil's Collective Defense Institute Has Filed Two Lawsuits Demanding $525.27M From The Brazilian Units Of TikTok, Kwai And Meta Platforms For Allegedly Failing To Create Mechanisms To Prevent Indiscriminate Use Of These Social Media Platforms By Minors' - Reuters News

<a href="https://brics-russia2024.ru/en/news/plenarnoe-zasedanie-xvi-sammita-briks-v-formate-autrich-briks-plyus/" title="https://brics-russia2024.ru/en/news/plenarnoe-zasedanie-xvi-sammita-briks-v-formate-autrich-briks-plyus/">https://brics-russia2024.ru/en/news/plenarnoe-zasedanie-xvi-sammita-briks-v-formate-autrich-briks-plyus/</a>

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Politics

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Watch Live: Russian President Vladimir Putin Holds A Meeting With Leaders At The BRICS Summit; Says Cross-Border Payments Issue Is Important, We Will Develop Cooperation Within BRICS; BRICS Does Not Pursue Separate Common Payment System

<a href="https://www.barrons.com/news/brazil-supreme-court-lifts-ban-on-musk-s-x-9cdc78a3">https://www.barrons.com/news/brazil-supreme-court-lifts-ban-on-musk-s-x-9cdc78a3</a>
&nbsp;
Brazil's Supreme Court announced Tuesday that it was lifting a ban on X, after the social media site had been blocked in its biggest Latin American market for over a month amid a row over disinformation.
"I authorize the immediate return of the activities" of the social platform, Judge Alexandre de Moraes said in his ruling, after X settled millions of dollars in fines for breaching court orders relating to the fight against misinformation.

'Brazil Supreme Court Lifts Ban On Musk's X' - Barron's

FMC Signs Distribution Agreement With Ballagro Agro Tecnologia To Expand Biological Crop Protection Solutions In Brazil, Strengthening Biosolutions Offering In Key Market

<a href="https://support.google.com/adspolicy/answer/13706872?hl=en-GB" title="https://support.google.com/adspolicy/answer/13706872?hl=en-GB">https://support.google.com/adspolicy/answer/15471805?hl=en-GB&amp;ref_topic=29265&amp;sjid=513775088423335456-NC</a>

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Google Updates Google Ads Gambling And Games Policy, Brazil To Run Ads For Online Sports Betting/ Online Gambling Services After Sept 30; Advertisers Must Demonstrate That They Have Requested Authorization To Operate These Services From The Brazilian Ministry Of Finance

Elon Musk's X Asks Brazil Supreme Court To Allow It To Resume Service In The Country

OPEC Event In Brazil Resumes After Being Halted Due To A Climate Protest

X Lawyers In Brazil Report Platform Will Soon Present Legal Representative To Supreme Court And Has Begun Complying With Court Orders To Remove Hate Content; Unintentional Technical Issue Allowed Some Users To Access X On Wednesday

Brazil's central bank will likely raise interest rates for the first time in two years due to a heated economy and an <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40919701/investors-betting-on-50-basis-point-rate-cut-expert-says-market-pressure-could-sw">above-target inflation outlook</a>.
In contrast, the U.S. central banking system just cut rates by a half percentage point Wednesday afternoon. 
Brazilian policymakers led by Roberto Campos Neto will lift the benchmark Selic by 25 basis points to 10.75% late on Wednesday, according to 31 of 35 economists in a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-18/brazil-readies-interest-rate-hike-diverging-with-fed?srnd=phx-economics-v2&amp;sref=TBDibEcD">survey</a>.
Two economists are forecasting a higher increase of 50 basis points the other two expect the rate to stay the same.
Most traders are expecting a rise of 25 basis points, with digital options at the local stock market pricing in a 15% chance of a 50 basis-point hike.
Latin America's largest economy differentiates itself from peer economies as its economic activity shows resilience to high borrowing costs. President&nbsp;Luiz Inacio Lula da Silva's increased public spending is boosting family income that is propped up supported by low unemployment.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40913751/50-or-25-bps-fed-rate-cut-markets-and-economists-at-odds-what-does-steeper-reduction-mean-for-in">50 Or 25 Bps Fed Rate Cut? Markets And Economists At Odds — What Does Steeper Reduction Mean For Investors?</a>
 A resilient economy along with questions about the government's commitment to fiscal responsibility are feeding into inflation projections which are above the 3% goal through 2027.
"Brazil's central bank is widely expected to embark on a hiking cycle on Wednesday, but there's plenty of questions that the post-meeting communication could clarify,&#8221; said Adriana Dupita, Brazil and Argentina economist for Bloomberg Economics.
&#8220;W expect the BCB to strike a delicate balance as it aims for a hawkish tone to curb inflation expectations, flexibility to adjust the rate path on new data and to push back on market pricing for aggressive hikes. Achieving all three is a tall task."
Price Action: Brazil exchange-traded funds saw gsins and losses into Wednesday&#8217;s early-afternoon trading.
<ul>
<li>IShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>) slipped 0.75%</li>
<li>Franklin FTSE Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLBR#NYSE">FLBR</a>) fell 0.63%</li>
<li>iShares MSCI Brazil Small-Cap ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWZS#NASDAQ">EWZS</a>) went up 0.03%</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40912283/mohamed-el-erian-warns-markets-have-gone-too-far-in-pricing-fed-as-single-mandate-central-bank-highl">Mohamed El-Erian Warns Markets Have Gone Too Far In Pricing Fed As &#8216;Single Mandate&#8217; Central Bank, Highlights Potential Disappointment Awaiting Investors Looking Forward To Rate Cut</a></li>
</ul>
Image: Shutterstock

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Brazil Expected To Raise Interest Rates Hours After Fed Lowers Them

EHang Holdings Announces EH216-S eVTOL Aircraft Secures Experimental Flight Authorization From Brazil's Civil Aviation Agency, Plans Test Flights To Showcase Advanced Intelligent Flight Technology

On September 5, 2024, U. S. Steel, along with the United Steelworkers union ("USW") and Wheeling-Nippon, has filed antidumping and countervailing duty petitions with the United States Department of Commerce ("DOC") and the United States International Trade Commission ("ITC"), on imports of corrosion-resistant steel ("CORE") from Australia, Brazil, Canada1, Mexico, Netherlands, South Africa, Taiwan, Turkey, United Arab Emirates, and Vietnam.
Duane D. Holloway, Senior Vice President, General Counsel and Chief Ethics &amp; Compliance Officer of U. S. Steel, commented, "As we have for decades, U. S. Steel continues to lead the domestic industry in the fight against unfair trade on behalf of our workers, families, communities, and customers we serve. These new trade cases—the largest filed by U. S. Steel in nearly a decade—will address low-priced and subsidized CORE imports that continue to pour into the U.S. market. These cases aim to restore a level playing field and support our investments in Big River Steel's new dual coating line and second mini-mill in Arkansas, as well as U. S. Steel's CORE facilities across the country."

iShares MSCI Turkey Investable Market Index Fund

U.S. Steel, USW And Wheeling-Nippon Files Antidumping And Countervailing Duty Petitions With The U.S. DOC And The U.S. ITC, On Imports Of Corrosion-Resistant Steel From Australia, Brazil, Canada, Mexico, Netherlands, South Africa, Taiwan, Turkey, United Arab Emirates, And Vietnam

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Stellantis Head For South America Says Firm To Launch Two Hybrid-Flex Vehicles In Brazil This Year; Announces Investment Of $385M In Its Argentinian Complex In Cordoba

<a href="https://www.wsj.com/business/telecom/spacex-pulls-employees-from-brazil-discourages-travel-there-as-musk-battles-court-over-x-2acb87e3?mod=latest_headlines">https://www.wsj.com/business/telecom/spacex-pulls-employees-from-brazil-discourages-travel-there-as-musk-battles-court-over-x-2acb87e3?mod=latest_headlines</a>
&nbsp;
SpaceX has moved to evacuate employees from Brazil and warned others against traveling to the country, a sign of how <a href="https://www.wsj.com/topics/person/elon-musk">Elon Musk</a>'s <a href="https://www.wsj.com/world/americas/brazils-supreme-court-upholds-x-ban-d9b4a394?mod=article_inline">ongoing battle</a> against Brazil's highest court over his social-media company X is spilling out to affect some of his other businesses.&nbsp;
In an email late last week, SpaceX President Gwynne Shotwell advised employees not to travel to Brazil for work or pleasure, according to people familiar with the email. The space company also last week took steps to relocate from the country its small group of non-Brazilian employees there, one of the people said.

'SpaceX Pulls Employees From Brazil, Discourages Travel There, As Musk Battles Court Over X; The Moves Show How Musk's Legal Dispute About X Is Affecting SpaceX And Its Starlink Satellite-Internet Service' - WSJ

<a href="https://www.bloomberg.com/news/articles/2024-08-30/judge-bans-x-in-brazil-after-musk-refuses-to-name-representative?srnd=all" title="https://www.bloomberg.com/news/articles/2024-08-30/judge-bans-x-in-brazil-after-musk-refuses-to-name-representative?srnd=all">https://www.bloomberg.com/news/articles/2024-08-30/judge-bans-x-in-brazil-after-musk-refuses-to-name-representative?srnd=all</a>

'Judge Bans X In Brazil After Musk Refuses To Name Representative' - Bloomberg

Brazil's Campos Neto Says Government Facing Challenges As Expenses Rise Faster Than Revenue Despite Strong Revenue Growth

Golden Matrix Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GMGI#NASDAQ">GMGI</a>), a leading developer and licensor of online gaming platforms, systems and gaming content, is proud to announce that its subsidiary, Meridianbet, has been shortlisted for an exclusive sports betting and iGaming license in Brazil.
The application, filed under request number 56.195.600/0001-07, positions Meridianbet among a select group of global operators who will be part of one of the most anticipated market launches in the global sports betting and iGaming industry.

GMGI

Golden Matrix Group Subsidiary Meridianbet Shortlisted For Exclusive Sports Betting And iGaming License In Brazil

ArcelorMittal And Atlas Renewables Energy To Form JV To Build A Solar Plant In Brazil's Minas Gerais State, Aiming To Supply Power To The Steel Producer's Operations In Southern Brazil; Once The Plant Starts Commercial Operation, Expected At The End Of 2025, The Agreement Stipulates That ArcelorMittal Will Buy Atlas' Entire Stake In The Project, Leaving It With 100% Of The Solar Park

Weekly Commentary: Historic November

Liquidity is an important feature of exchange-traded funds (ETFs), especially when identifying the best ETFs to buy now based on trading volumes. I...

Best ETFs to Buy Now, 12/2/2024, According to Relative Volumes

South Korea (EWY) is by far the worst performer today and it is also now the only one trading at a 52-week low too. 

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iShares Inc iShares MSCI Brazil ETF

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