Global markets were mixed overnight. There was a broad surge in global stocks overnight that sent Chinese, Japanese and US stocks to record highs as optimism over corporate earnings turbocharged the equity bull market. However, at the time of writing the US market has retraced and is slightly lower. Base metals retreated as the US dollar found some support which will likely weigh on the ASX today.
One of our top multi-year investment themes is that there will be a “dining boom”, as we believe demand for a higher quality diet from a growing middle class in the developing world (in particular Asia) is set to be a multi-year tailwind for AU/NZ agricultural businesses. A sector which has been in the spotlight of late is milk powder/infant formula with stocks such as A2 Milk and Bellamy’s experiencing huge price runs. ...
Stock Markets, Simplified.