Weak UK Economic Numbers
The UK Retail Sales figure for February fell by 0.3% year-over-year after falling by the same percentage in January. The drop in January was the worst for that month in 17 years and the inability to rebound last month is not a good signal for the consumer. House prices in the country fell by 0.5% in February and down 1.9% year-over-year. This is the third consecutive monthly decline. Mortgage rates on the rise are hurting the UK market, something the US market has yet to deal with.
** iShares United Kingdom ETF ($EWU) up 8.3% in 2012
Brazil GDP Misses
The final 2011 GDP number for Brazil came in at a growth rate of 2.7%, which is below the forecast of 3% and well off the goal set at the beginning of 2011. Expect more interest rate cuts in the coming months to help spur on bigger growth in the country.
** iShares Brazil ETF ($EWZ) up 20.2% in 2012
Russia Riots
More protests in Russia have the country’s stock index falling today, one day after a rally based on a landslide Putin victory. There is not surprise that protests have suggested vote tampering and therefore stocks fall with the Micex Index down over 2.5% today.
** Market Vectors Russia ETF ($RSX) up 24.3% in 2012
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