Is it time to buy commodity exporters? Goldman Sachs thinks that the Russian and South African equity indices could be poised to outperform their emerging-market peers, says Sydney Maki on Bloomberg.
Both markets are skewed towards miners and other raw materials firms, which should gain from strong global commodity prices. The bank also notes that rising real yields in the US are reducing the relative appeal of alternatives such as Chinese growth stocks.
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Russian firms are increasingly tapping Western markets directly to cash in on the global equity boom, says Alexander Marrow on Reuters. Discount chain Fix Price raised $2bn when it floated in London and Moscow last month. Gold miner GV Gold plans to do a similar joint listing later this year. “This year could be [the] best for equity raisings from Russia since 2007”, Fedor Tregubenko of UBS Group told Reuters’ Katya Golubkova.
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Higher earners face £377 bill if Reeves puts up income tax – do you fit the Treasury’s definition of ‘working people’?Labour’s election manifesto pledged not to raise National Insurance, VAT or income tax but prime minister Keir Starmer appeared reluctant to repeat the promise this week
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How to invest in undervalued gold minersThe surge in gold and other precious metals has transformed the economics of the companies that mine them. Investors should cash in, says Rupert Hargreaves
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