Stampa PR News

05 Feb 2021

Grafiek Fidelity: Cyclische groeimarktaandelen profiteren van heropening wereldeconomie

Beste redacteur,

De opkomende markten binnen de EMEA-regio (Europa, Midden-Oosten en Afrika) en Latijns-Amerika zijn goed gepositioneerd om straks de vruchten te plukken van de heropening van de economie. Dat zegt Fidelity International bij haar Grafiek van de Week.

De vermogensbeheerder wijst op het relatief groot aantal cyclische aandelen zoals financials en grondstoffen binnen deze markten. Een scherpe herwaardering van aandelen is mogelijk, maar selectiviteit blijft van het grootste belang, gezien niet alle balansen van overheden en bedrijven even gezond ogen.

Hieronder vindt u het volledige bericht:

Chart Room: Reopening markets and the reopening trade

So far, the global economic recovery from the Covid-19 fallout has been led by developed markets and emerging Asia, spearheaded by China. Looking ahead, we think the catchup trade could ripple out across other emerging markets, driven by the availability of vaccines, the reflationary impulse from China and developed markets, and the lagged impact of monetary easing.

Emerging EMEA (Europe, Middle East and Africa) and Latin American stocks are particularly well positioned to reap the benefits of these trends. This week’s Chart Room looks at the regions with the largest exposure to the re-opening of economies globally, based on those markets with relatively high weightings to cyclical stocks like financials and commodities. 

Chartroom 5-2-21

Consider Latin American economies, which bottomed in April and May amid social mobility restrictions imposed as a result of the coronavirus outbreak. More recently, governments have begun to gradually open economies, as the number of new cases starts to stabilise. While it will take time for these countries to return to a sense of normality, there are promising signs of recovery. 

As sentiment towards Latin America and EMEA regions improves, supported by a pick-up in activity as well as inflationary support for commodities, we could see a sharp re-rating of stocks in these markets from these historically low valuations. Nonetheless, selectivity remains paramount, given the differing levels of strength amongst sovereign (and also corporate) balance sheets.

Moreover, the unprecedented levels of government stimulus globally are also likely to raise inflationary pressures. As these pressures mount, many commodities can provide a natural inflationary hedge, underpinning the case for selective exposure to commodity rich regions like Latin America and EMEA. 

Notes to editors

Voor meer informatie:
Lieke Liefkes, Stampa
fidelity@stampacommunications.com
+31 (0)20 404 2630

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