We are stepping up and buying Albemarle (ALB US) into protracted weakness. This aligns with our more positive view of the Lithium market.
MM are buying ALB US in the International Equities Portfolio, allocating 4% around $US116.00
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We are cutting our position in Glencore (GLEN LN) after the stock broke key support. We think the next 12 months will be a complex one from a corporate perspective, and prefer to tweak our exposure towards Lithium via Albemarle (ALB US).
MM are selling GLEN LN in the International Equities Portfolio, taking profit around £385.00
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We are adding to our existing position in UBS Group (UBS US) following last week’s result. We currently hold a 3% weighting, increasing this by a further 2%, targetting a 5% portfolio weighting.
MM are adding to UBS US in the International Equities Portfolio, targeting a 5% portfolio weighting around $US27.90
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