In the previous part of this series, we saw why the SPDR Euro STOXX 50 ETF (FEZ) and the iShares MSCI Eurozone ETF (EZU) closed on negative notes on Tuesday, January 5, 2016. But investors should also know which industry dragged down the performance and which industry helped drive it up. Let’s take a look at the performances of FEZ’s various industries.
Auto manufacturing industry, the biggest loser
The auto manufacturing industry was the biggest loser with a negative return of 1.5% on Tuesday, January 5, 2016. Auto manufacturing stocks for Volkswagen (VLKAY), BMW, and Daimler (DDAIF) fell 2.8%, 1.2%, and 0.53%, respectively, that day. As the United States filed a civil lawsuit against Volkswagen for violating the Clean Air Act, all of Germany’s auto manufacturing stocks fell. Volkswagen has been fined $48 billion for violating environmental laws.
The aerospace industry, the top contributor
The aerospace industry provided the highest positive return of 2% on Tuesday, January 5, 2016. Airbus (EADSY) returned 2% that day. The aerospace industry is a direct beneficiary of lower crude oil prices. Airbus announced that ANA, Japan’s largest airline, agreed to buy three A380s with the first delivery scheduled for 2018.
The beverage industry returns 1.3%
The beverage industry provided the second-highest positive return of 1.3% on Tuesday, January 5, 2016. Anheuser-Busch Inbev (BUD) returned 1.3% that day after the company declared that nobody was injured in a fire at the company’s facility on Schrock Road in Columbus, Ohio.
In the next part of this series, we’ll look at the performance of FEZ’s top performers on January 5, 2016.