Viewpoint: Bullish
UBS Group AG (UBS US) provides financial services to private, corporate, and institutional clients. The Company offers investment, retail, and corporate and institutional banking, as well as holistic wealth management planning and asset management services. UBS Group also offers securities services such as fund administration and third-party fund management.
JPMorgan Chase & Co. (JPM US) is global investment bank dealing in treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.
Alibaba Group (BABA US) provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries.
Antofagasta plc (ANTO LN) owns and operates copper mines in Chile and conducts exploration activities in Chile and Peru. The Group also operates a rail network servicing the mining region of northern Chile, as well as operates a concession for the distribution of water in this region.
Anglo American PLC (AAL LN) is a global mining company with operations including iron ore, manganese, and metallurgical coal, base metals including copper and nickel and precious metals and minerals including platinum and diamonds. Anglo American has mining operations in Africa, Europe, North and South America, Asia, and Australia.
Ping An Insurance (2318 HK) provides products and services through its five ecosystems in financial services, healthcare, auto services, real estate services and Smart City solutions. The Group’s insurance business writes property, casualty, and life insurance products.
Iron ore has appreciated over 50% since late 2020 dragging the related sector significantly higher as non-believing analysts have needed to continually upgrade their revenue targets – a quick glance at the chart below should dispel any thoughts that stocks in the space don’t follow the price of the underlying bulk commodity.
We don’t hold Amazon (AMZN US) in our MM International Portfolio but it’s been one of our yardsticks through 2020 / 21, the stocks been tracking sideways since September last year and we still see another ~15% upside before we will get particularly nervous around it.
US stocks had a tough session overnight with every sector closing lower although Energy felt begrudgingly so.
Oil Search Limited operates as an exploration company. The Company develops oil fields, as well as provides investment. Oil Search serves customers worldwide.
