How to invest in crude oil with ETF.

Crude oil is reaching all time high $82. Many of us are looking at some softening. However you are long or short with crude oil let me put some ETF in question.

Well known and most liquid are (OIL) and (USO) with one to one relation to crude oil price. If you are more bullish or bearish with some part of oil business maybe you pick some speciality from ETF like following:
SPDR Oil & Gas Equipment & Services (XES), iShares Oil Equipment & Services (IEZ), SPDR Oil and Gas Exploration & Drilling (XOP), iShares Oil and Gas Exploration & Production (IEO)

Of course all are short able. But if you have no shorting available there is still one inverse ETF UltraShort Oil & Gas ProShares (DUG) with almost double leverage.

How to invest money in Croatia (indices SETX and CROBEX)

Croatia will join EU probably in 2009. It is indicating also nice average salary (USD 9597 p.a.) which is even above median in EU newcomers. Economy of country with 4.4 mil people grew last year 4.6% with with low CPI 3.2%. Growth 4.7% is expected for 2007. As for other non-EU countries there are not ETF dedicated only for one country and therefore the best way how to trade Croatian index is with investment certificates.

(more details on http://stockweb.blogspot.com)

Open end S-BOX Kroatien-Index (ISIN AT0000A04P9I) issued by Erste Bank is underlaying 10 biggest companies. But diversification is low as 3 major caps (Privredna Banka Zagreb, Adris, Ina Industrija Nafte) having 60% of Croatian index SETX. Wider Croatian index CROBEX includes 30 companies with max weight 0f 20% for one holding. You can invest to CROBEX with open end certificate from ABN Ambro (ISIN DE000AA0F677).

I also wrote two posts about Croatian GDR traded on London Stock Exchange. http://stockweb.blogspot.com/2007/06/how-to-invest-money-in-croatia-ina.html
http://stockweb.blogspot.com/2007/06/2how-to-invest-money-in-croatia-pliva.html
With those GDR you can invest directly to two Croatia blue chips (pharmaceutical Pliva and oil & gas producer Ina Industrija Nafte)

How to invest money in Turkey

Stockweb.blogspot - The first thing to know about the Turkish stock market and the currency (Lira) is that they move in tandem with developed markets.

Indecies:We have two main indecies. ISE National All Shares Index is composed of all National Market companies except investment trusts.Next one ISE 30 is composed of National Market companies except investment trusts and is used for trading in the Derivatives Market.

Below I've prepared analyse on sector return in turkish lira for year 2006.


Blue chips companies listed on ISE:Akbank, Arcelik, DYO Boya Fabrikalari, Denizbank, Enka Insaat ve Sanayi A.S., Erdemir, Finansbank, Garanti Bank, Kardemir, Karsan, Koc Holding, Migros Turk, Penguen, Petrol Ofisi, Tofas, Turkcell, Turkish Airlines

Financial instruments:For investment in EUR I'd recommend Lyxor ETF DJ Turkey titans 20 (TUR) registered in France. For US investors Finans Asset Management launched the first ETF in January 2005, the Dow Jones Istanbul 20 ETF. This ETF tracks the performance of the largest blue-chips in Turkey. In December 2005 another ETF was launched, the Non-Financial Istanbul 20 ETF, which tracks the performance of the largest industrial blue-chips of Turkey. The provider launch Turkish Smaller Companies Istanbul 25 ETF.For US investors the good way is pick up from NYSE Turkish Investment Fund (TKF) or Turkcell Ilet (TKC).

My personal outlook for 2007 is bullish. After some months of struggling a lot of turkish shares are with very good discount.

2.How to invest money in Croatia - Pliva (PLVD)

Pliva (PLVD)

Pliva and its subsidiaries manufacture and supply pharmaceutical products, animal health and agrochemical products, foodstuff and cosmetics and personal hygiene products. Co.'s product portfolio encompasses three fields: health care, (bulk pharmaceuticals, drugs for human and animal use), food products, and cosmetics and hygiene products.

Stock is overbought with P/E more than 30. At the picture you can see 1 year chart.

Except of LSE you can trade those two stocks as GDR in Germany and in case of Pliva also in US on OTC (see PLVGF.PK).

1.How to invest money in Croatia - INA Industrija Nafte

Today I'd like to point out two croatian companies traded on London Stock Exchange as a GDR. So you can easily invest in.

INA Industrija Naftec (HINA)

It is vertically integrated oil and gas company based in Croatia. Co. is engaged in operating in oil and gas exploration and production, refining and marketing of oil products. Its subsidiaries are engaged in LPG business, natural gas transportation and providing integrated oilfield services. Co. is also responsible for gas imports into Croatia. Co. also operates refineries and lubricant plants which support Co.'s crude oil and distribution networks.

P/E ratio is quite high at 26. I added 6months technical chart for HINA.

How to invest money in Europe with ETF or Funds.

For US investors the most easiest way how to trade european countries (of course except few ADRs) is invest via funds or ETF.Of course, on AMEX there is a large number of ETF focused on different european countries but also some specialities.

For instance, limit a portfolio only to companies domiciled in countries that use the euro currency, as does iShares MSCI EMU Index (EZU) to the exclusion of the United Kingdom, Switzerland, and Sweden. Also you can stick just to the biggest companies on the continent, as does DJ Euro Stoxx 50 ETF (FEZ). Quite widespread is also ETF share class (VGK).

Except ETF you can invest money directly to Funds. With distinctive exposure are Mutual European (TEMIX), Putnam Europe Equity (PEUGX) and T. Rowe Price European Stock (PRESX).

How to invest money in Hungary

In my view Hungary isn't best pick for long for year 2007. Politic situation doesn't support growth as government debt is 10% of GDP, CPI is 9%.

Hungarian stocks index BUX gained 9% in last 12 months which is even less than EURO STOXX 50 (15%). On the other side due to those politics instabilities BUX P/E ratio is 12.6 which is the lowest eastern european. Your investment to hungarian financial instruments could support also currency appreciation as central bank is probably going to do intervention in favour of hungarian Forint.

Basis of BUX:
bank OTP 35.8% of BUX, gas company MOL with 28.3%, telco Magyuar Telecom 13.7% and pharmaceutical Gedeon Richter with 14.5%.
All together those 4 blue chips represent 92% of BUX!

And how to invest in Hungary? In EUWAX, I have two favourite open-end index certifikates.
1. ISIN CH0021606022 from UBS for index BUX (included dividend payments which are btw 13%!).
2. ISIN AT0000454194 from Raiffeisen Centrobank for index HTX (w/o dividends).

How to invest money in Slovenia

Main index SBI TOP has been calculated since March 2006. It is composed of six blue chips; pharmaceutical co. KRKA, energetic co. PETROL, retailer MERCATOR, consumer goods producer GORENJE, telco co. TELEKOM SLOVENIJE and brewery PIVOVARNA LASKO.

The largest weights are having KRKA (30%), PETROL (25%), TELEKOM SLOVENIJE (20%).

The way how to trade slovenian index SBI TOP is with index certifikate (ISIN AT000A0A38L9) emited by Raiffeisen Centrobank.

Quite useful link I've found is stock screener based on fundamentals indicators:

Fundamentals stock screener

How to invest money in Romania

Romania as a EU newcomers is a emerging country with high potential. Main index BET is composed mainly of financial and mining. it is around 60% of market cap. Traded blue chips are Petrom, BRD, Banca Transilvania, C.N.T.E.E. Transelectrica. As in other transition economies local romanian companies are targets for acquisitions. In bank's sector BRD acquired by Societe Generale, Banca Transilvania by austrian Erste Bank.
On AMEX you have only few ETF focused on central and eastern europe only with fraction of romanian shares. Better way is to use certifikates at Xetra Wien or Stuttgart. Main emitents are Raiffeisenbank, Erste bank.

How to invest money in Czech Republic

The easiest way for foreigners is open accout at brokerage supporting Stuttgart's derivate exchange Euwax. You have wide range of warrants & certificates either for blue chips or index PX50. Commissions starting from 17 EUR. There is also way to trade the same instruments directly with emitent. Then, starting from 9 EUR.
Apart from that you can open account with czech brokarage like FIO, ATLANTIK FT, BROKERJET and trade on Prague stock exchange.