Overview of FEZ’s performance on January 13
As we discussed previously in this series, as global growth worries weighed on the market during the previous day’s trading, global markets fell drastically on Wednesday, January 13, 2016. The SPDR EURO STOXX 50 ETF (FEZ) and the iShares MSCI EMU Index ETF (EZU) returned 2.08%, and 1.97%, respectively, on that day.
Now let’s analyze which industry drove these ETFs’ performances and which industry dragged down their performances.
The oil and gas industry was the highest contributor
The oil and gas industry contributed the highest return of 1.8% on Wednesday, January 13, 2016, with the major oil and gas stocks of Repsol SA, Total SA (TOT), and Eni SpA (EAA) returning 2.5%, 1.6%, and 1.1%, respectively, on the same day. Due to the recovery in oil prices on Wednesday’s early trading, oil and gas stocks gained generally that day, and Repsol emerged as FEZ’s biggest gainer.
The aerospace industry
The aerospace industry contributed returns of 0.83% on Wednesday, January 13, 2016, and the aerospace stock of Airbus Group (EADSY) returned 0.83% on the same day. Airbus’s Chief Executive Officer Fabrice Brégier said at the airline’s annual conference that the company is relaxed about China and will likely benefit from lower crude oil prices.
The auto manufacturing industry was the biggest loser
The auto manufacturing industry provided the worst return of -3.4% on Wednesday, January 13, 2016. Auto manufacturing stocks such as Volkswagen (VLKAY), Daimler (DDAIF), and BMW yielded -0.64%, -3.8%, and -5.6%, respectively, on the same day, with BMW emerging as FEZ’s biggest loser after the company recalled its i8 model for stability control problems.
In the next part of this series, we’ll analyze the performances of FEZ’s top performers on January 13, 2016.