The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
Head of Equity Strategy
Glencore shares are down 3% following declines of almost 6% as the UK Serious Fraud Office is investigating potential bribery in Congo dealings. The investigation is a short-term negative factor for the stock but it does not change the overall strategic position of Glencore, which is well suited to take advantage of the expanding EV market as Glencore has exposure to cobalt, copper and nickel.
Before today’s event the stock had a negative rating in our equity model driven by weak technical factors relative to the metals & mining industry.