Glencore PLC (GLEN LN)

18/05/2022 09:38

International Equities Portfolio

The MM International Equities Portfolio had a solid week up +1.99% with The Trade Desk (TTD US) adding +20.73% and Glencore (GLEN LN) up by +9.61%. The biggest drag was Apple (AAPL US) which lost -4.41% as the larger cap technology stocks joined the recent sell-off in growth.

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27/04/2022 09:29

International Equities Portfolio

The MM International Equities portfolio fell -6.7% last week while cash sits at 8%. Every stock in the portfolio was down, the worst performers were PayPal (PYPL US) -16.6%, Glencore (GLEN US) -11.6% and Amazon.com (AMZN US) -8.9% while Brunswick Corp (BC US) was our best performer and it still fell -1.8%.  

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06/04/2022 09:49

International Equities Portfolio

The portfolio fell -2.4% last week while cash sits at 8%.  Glencore (GLEN LN) was our best performer rallying +6.2% while Brunswick Corp (BC US) had a shocker falling over 15% following a more bearish Jefferies report into the US leisure market, specifically around boat sales.

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30/03/2022 09:44

Glencore Plc (GLEN LN) GBP480.65

GLEN is our only commodity stock held in the International Portfolio and it would be a big call to shun the sector entirely. Our view towards GLEN however is similar to our current stance towards BHP. We are happy holders for now, however a pop on the upside would see us exit while a pullback would see us increase. To reiterate, we are medium term commodity bulls, just cautious short term given spikes higher across many of the raw materials that Glencore mine.

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30/03/2022 09:42

International Equities Portfolio

The Portfolio was flat during the week while cash sits at 8%. That included a -1.48% influence from the currency, the AUD rallying back up above US75c detracting from performance. The Trade Desk (TTD) US) +6.60% enjoyed funds circulating back into tech and so too did Apple (AAPL US) which put on +4.41%. Commodities pulled back with Glencore (GLEN LSE) down -6.24% to be the biggest drag.  

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23/03/2022 09:40

International Equities Portfolio

The International Equities had a great week up +8.27%, while cash sits at 9%. A +44.47% rally from Alibaba (BABA US) and a +35% increase in JD.com (JD US) the main drivers, simply huge gains however we also enjoyed a +21.29% increase in The Trade Desk (TTD US) & a 13.15% increase in Glencore (GLEN LSE). Only 2 stocks fell, Barrick Gold (GOLD US) the weakest link down -1.69% however the main detractor...

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16/02/2022 09:24

Glencore Plc (UK) GBP427

UK based resources company Glencore is like a number of other stocks outperforming  its Australian peers, in this case its making new decade highs. We intend to ride this position until we feel the commodities have topped out e.g. a perfect scenario would be if copper was to run towards our targeted $US500/lb.

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25/11/2021 11:44

International Equities Portfolio – Amendments

We are selling SHOP and buying GLEN in the International Equities Portfolio

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24/11/2021 09:33

International Equities Portfolio

The International Equities Portfolio was lower over the course of the week, down by -0.70% while cash remains at ~3%. BHP and Apple led the line while Alibaba (BABA US) and PayPal (PYPL US) weighed noticeably on our portfolio.

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10/11/2021 09:41

Glencore Plc (GLEN LN) GBP355.45

MM has discussed this diversified resources company a number of times over recent weeks (here) as we’ve been waiting for an attractive entry opportunity. We believe this purchase will align this portfolio fully towards our reflation outlook towards stocks into 2022.

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