BMW Drives Germany ETF (EWG) Sharply Higher

So far in 2010, most European stock markets have plunged as traders grew increasingly wary over the health of the euro zone and the future of the common currency. In addition to declining stock market prospects, some countries such as Spain and Portugal have been hurt by the decline in the euro; because these nations are among the biggest importers in the world, a declining euro makes goods even more expensive to buy. While the crisis has tempered most investors’ expectations for European GDP growth, the declining euro could be great news for export-intensive economies such as Germany, and could help many European companies to quickly grow overseas operations despite weakness in their home market. That’s exactly the scenario playing out around iconic German carmaker BMW, one of the 15 largest car makers in the world and the third largest in Germany. The company gave a sharp boost to its [...] Click here to read the original article on ETFdb.com. Related Stories: Will China’s Spending Spree Drive Luxury ETF Higher? Germany ETF (EWG) In Focus As Austerity Plans Released Daily ETF Roundup: UNG Tumbles, IYT Drives Higher