iShares MSCI Switzerland ETF

EWL

Market cap $1.56B

More European countries should foster European capital markets by introducing funded pension systems similar to those in the Nordic ​countries and the Netherlands, Sweden's minister for financial markets said on ‌Friday.

European stocks are set to rise on Tuesday as investors brace themselves ahead of President Trump's deadline for Iran to open the Strait of Hormuz.

I maintain a Hold rating on iShares MSCI Switzerland ETF (EWL) due to its premium valuation and mixed technicals. EWL trades at 18.1x earnings with a PEG near 3, limiting its current valuation appeal despite a 14.5% 12-month gain. The ETF is highly liquid, top-heavy in Health Care (notably Novartis and Roche), and lacks significant Tech or Energy exposure.

The central bank last month left its key interest rate unchanged at 2%, but set out a number of ways in which developments in the Iran War might affect the eurozone's economic outlook.

The European Commission proposes 17 laws to unite capital markets, backed by major economies.

The European Central Bank is determined to prevent any energy-driven inflation from broadening out, but it is ​too early to discuss dates for possible interest ‌rate hikes, French central bank chief Francois Villeroy de Galhau told Italy's La Stampa newspaper.

The European Central Bank should not rush to raise interest rates to combat a ​surge in inflation and should instead take time to analyse whether ‌the jump is becoming entrenched, board member Isabel Schnabel said on Friday.

Anything more than a short-lived spike in inflation could warrant an increase in interest rates, ECB President Christine Lagarde said Wednesday. The ECB kept interest rates on hold at its last monetary policy meeting last week.

The European Commission's flash consumer-confidence indicator for the eurozone stood at minus 16.3 compared with minus 12.3 in February. A consensus of economists polled by The Wall Street Journal expected a smaller fall to minus 14.1.

Investors responded to President Trump's latest threat, vowing to target power plants if the Strait of Hormuz isn't reopened. Meanwhile Iranian leadership warns it will respond by targeting energy and water facilities in the Gulf.