Viewpoint: Bullish
Obviously different stocks follow the gold price to greater / lesser degrees for a number of different reasons including their cost of production, level of hedging, operational performance and the like.
One of our better investments in 2021 has been from Whitehaven Coal (WHC) which has finally started embracing the rally in the underlying coal price.
US stocks were firm overnight and the broad based S&P500 still managed to post fresh all-time highs courtesy of a decent night for the value stocks with the Energy Sector best on ground advancing +1.7%.
The BNPL space enjoyed a solid recovery from an early sell-off yesterday, after a few weeks sell-off into EOFY we feel it’s likely that APT will recommence its rally back towards all-time highs through July and August.
UK based VUK has been the best performing bank in 2021 rallying over 50% but it’s been coming off the boil since bond spreads started to contract following comments from the Fed.
It already feels like a long week and its only Friday morning, the combination of being in lockdown and EOFY has been exhausting, the market itself is only down -0.6% so it’s certainly not any wild gyrations in stocks draining our energy levels.
RHP +20.1%: where there’s smoke there is usually a fire, as was the case with one of the positions in the Emerging Companies portfolio today. Rhipe confirmed that Crayon has made an offer on the company at $2.50/sh which sent the stock higher today.
At the start of both the calendar and financial years we usually take a quick a look at stocks that have significantly both under and outperformed, they’re often very different to consensus at the beginning of the period.
US stocks were mixed overnight but the broad based S&P500 still managed to post fresh all-time highs courtesy of a decent night by the value stocks e.g. banks and resources.
