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Energy Stocks Still Favored, SPY and EWU Dip on August 31

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Part 3
Energy Stocks Still Favored, SPY and EWU Dip on August 31 PART 3 OF 4

Tullow Oil Leads EWU by 1.30%, EWU Down by 0.52%

Tullow Oil leads EWU by 1.30%

The iShares MSCI United Kingdom ETF (EWU) fell by 0.52% on August 31, with energy stocks among its top players. Tullow Oil (TUWLF) led the EWU ETF with a 1.30% return, followed by Amec Foster Wheeler’s (AMFW) 1.18% gain and Cobham’s (CBHMY) 0.89% gain on August 31.

Despite the fall in Amec Foster Wheeler’s EBIT (earnings before interest and tax) for the first half of 2015 by 24% when compared to last year, the stock rose on August 31 owing to the broad US stock market rally and rising oil prices. The company’s earnings were adversely affected due to the downward pressure on oil prices. The trailing five-day return of AMFW was 16.99%.

The graph below shows the performance of EWU over the past month.

[{"interval":2629800,"data":[12.932,14.713,13.297,13.866,14.262,15.191,14.804,15.191,13.332,14.036,14.626,14.891,15.551,15.428,15.569,15.782,16.532,16.041,16.202,16.827,17.069,16.061,16.968,17.077,17.884,18.537,18.491,19.072,18.484,19.503,18.833,19.622,19.971,20.076,19.96,19.719,18.824,18.092,18.641,17.806,18.041,18.778,17.992,19.073,19.141,18.35,18.49,17.15],"units":"$","start":1314853200,"end":1441083600,"name":"Price movement since August 2015","metric":"Closing Price","source":"BATS Exchange","observation_start":null,"chart_type":"line"}]

Although oil prices rose across the US and the UK markets, along with the US oil inventory’s fall—which greatly benefited the energy sector—EWU dipped on August 31.

Out of the 109 constituent stocks of the iShares MSCI United Kingdom ETF (EWU), only four stocks gained on August 31. Global markets were turbulent owing to the contraction in manufacturing activity in China.

The only stocks to yield a positive return on August 31 were Tullow Oil (TUWLF), Amec Foster Wheeler (AMFW), Cobham (CBHMY), and Petrofac (POFCY). POFCY yielded 0.50% on August 31. Royal Dutch Shell (RDS.B), which is part of the oil and gas sector, lost 1.70%. Similarly, Royal Dutch Shell (RDS.A) fell by 1.50%. Coca-Cola Enterprises (CCE), which belongs to the consumer staples sector, fell by 3.44%.

Let’s look at the performances of other sectors in the UK.

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