ITA ETF

The European Commission said on Friday that it had approved EasyJet, IAG and Air France-KLM as the takers of remedies required for Lufthansa's planned purchase of a minority stake in Italy's ITA Airways.

Italy's Treasury has put on hold the deal between ITA Airways and Lufthansa as Rome claims the German carrier wants to pay less than agreed for a minority stake in the Italian airline, a source familiar with the matter said.

Launched on 05/01/2006, the iShares U.S. Aerospace & Defense ETF (ITA) is a passively managed exchange traded fund designed to provide a broad exposure to the Industrials - Aerospace & Defense segment of the equity market.

Aerospace and defense ETFs have surged in the past year — and are up so far this week even as the U.S. stock market has broadly stumbled.

The iShares U.S. Aerospace & Defense ETF offers exposure to US aerospace and defense companies, with a focus on large-cap stocks and growth investments. The ITA ETF benefits from global military spending trends, particularly NATO's increased defense budgets, despite US fiscal constraints and budgetary pressures. Valuations for ITA are stretched due to recent gains, making it less attractive compared to peers like XAR and PPA with lower Boeing exposure.

Joe Terranova, Senior Managing Director for Virtus Investment Partners, joins CNBC's "Halftime Report" to explain why he's selling these two ETFs.

Rome Fiumicino airport sees room to grow as a hub for long-haul flights and business passengers after Lufthansa won European Union approval to buy a stake in ITA Airways, its CEO told Reuters.

Look at Aerospace & Defense ETFs, as companies report second-quarter 2024 earnings.

Global military expenditure increased by 6.8% y/y in 2023, driving growth in the defense sector. NATO members pledged to increase defense spending, benefiting U.S. defense contractors. iShares U.S. Aerospace & Defense ETF offers exposure to defense sector companies, with a neutral recommendation due to fund composition.