The green baskets were having a red week
All of our green baskets, energy storage (batteries, fuel cells etc.), renewable energy (production of green energy), and green transformation (companies using green energy) were underperforming last week and it has been a trend that we have observed for some time. The disruption in the European energy markets, specifically the electricity markets, is causing a headache for the industry because of pricing regulation making it more difficult to assess asset valuations. In the green transformation basket the EV makers have been under pressure due to enormous input cost pressures from high lithium and aluminum prices.
Nuclear power theme added
We have also added a nuclear theme basket which consists of companies within uranium mining, operation of nuclear power plants, and companies selling technology related to nuclear power. The basket is one way to express investor sentiment on nuclear power, but it is important to note that it is a difficult theme to construct a pure and good exposure profile around. We have also decided to remove the crypto & blockchain and 3D printing theme baskets from our core themes and thus our performance tables because both themes are small and very niche. Both themes are still available on our trading platforms under research for inspiration, but they are no longer part of our overview of themes to digest flows in the market.