Watch out! The new tech companies are eating your lunch!
Technology is the biggest sector in the S&P 500 index and accounts for five of the top ten largest companies. The sector is growing at a pace and scale never previously imagined and is eating into the profits of every other industry.
Tech giant Amazon is a prime example (no… Read the article
In the run-up to the EU referendum many financial commentators forecast a stockmarket meltdown in the event of a leave vote, yet within days of Brexit becoming reality, stockmarkets were confounding these pundits by touching new highs.
With the FTSE 100 not following the ‘Armageddon’ script (due to defensives dominating… Read the article
US banks have come a long way
You wouldn’t necessarily know it, but late last month (June 2016) the Federal Reserve released the results of one of the major stress tests performed on the US banking system.
Apart from a few banking sector specialists, little attention seems to have been paid to the results of the 2016… Read the article
Is the healthcare sector really cheaper than consumer staples?
Superficially, the healthcare sector in Europe looks attractively valued relative to consumer staples, but on a cashflow basis the relative valuation argument disappears. This may reflect more aggressive earnings adjustments in European healthcare.
In the US though, the valuation gap between healthcare and consumer staples does look more real and… Read the article
Testing times for the UK market
Well, we were not expecting that! I refer not to the vote to leave the European Union, but to the aftermath of that decision and the fact that the FTSE 100 finished the subsequent week up nearly 4%. Neither outcome was in the script. But on reflection, perhaps the second… Read the article
Global markets and the political and economic landscape were dominated last month by the unexpected result in the UK’s EU referendum.
In the first of a regular video series on the equities markets, Investment Director, Ritu Vohora looks at the Brexit effect and the likely outcomes for the UK market.
… Watch the videoFour drivers of UK healthcare sector outperformance since Brexit
Whilst there are few direct implications for UK pharmaceuticals and healthcare companies of the UK leaving the European Union, there are some indirect benefits that have triggered sector outperformance in the past week relative to the broader UK market, and even to other defensive sectors which have outperformed, like consumer… Read the article
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OKWelcome to the M&G Multi Asset Team’s Allocation blog, previously known as the Episode blog. We have changed the name of our blog to resonate better with our readers in Europe, however, the content and purpose of the blog has not changed. The Allocation blog continues to aim to provide unique market perspectives from our dedicated team of experienced asset allocators.
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