Investment Companies Daily

Research evidence excerpt

Investment Companies Daily

likely continued strong earnings uplift, and increasing Odyssean Investment Trust 5.3

Home REIT 5.4

valuation support. In particular, Semiconductors should soon start to find a bid. Aberforth Geared Value & Income 7.0

Our view is that fundamentals will likely remain constructive, as meaningful NextEnergy Solar 8.5

supply additions are not due before 2028, so it would be too early at present to CT Healthcare 10.5

price in an inflection. Separately, inflation rates have started to peak out in latest -20 -15 -10 -5 0 5 10 15

prints. This in turn could lead to lower bond yields, less pressure on central Source: LSEG Datastream

banks to be hawkish, and even to lower USD, all facilitating the broadening in Largest movers over the last month (%)

market leadership. Inflation remains sensitive to Brent direction and to Iran BlackRock World Mining Trust -18.6

developments. We have been arguing consistently since 2H of March to use Gabelli Merger Plus+ Trust -15.1

Geiger Counter -14.5

geopolitics-driven dips to add into, and continue to do so. Volatility likely Edinburgh Worldwide -13.8

remains, but we do not see de-anchoring in inflation expectations and Golden Prospect Precious Metal -13.4

differences vs. 2022 remain stark. Finally, the early Q2 results are coming in International CTBiotechnologyHealthcare 12.116.1

strong. It might not feel like it, given some notable fades, mostly in the Tech Gresham House Energy Storage 16.3

space, but aggregate stock price reactions to beats are positive so far, both in Biotech Growth 19.0

the US and in Europe. In our preview from last week, we highlighted Semis and SDCL Energy Efficiency Income 19.1

-25 -20 -15 -10 -5 0 5 10 15 20 25

Banks in particular as likely to deliver strong results, which should provide a