Equity markets across the globe are recovering apace, as evidenced by a range of individual bellweather names across a wide range of sectors. Look at good old Coke, quite a chart on the 3-5 year perspective. Thirsty work building all those bridges and ofices in hot places. This is still Warren Buffet’s favourite ever investment - the world’s best investor’s best stock. Makes you think! Notable core names which have moved to within a few points of the old highs include EWZ (Brazil) or its Sterling equivalent IBZL; the iShares FTSE UK Dividend Plus (IUKD); and possibly most notable is the largest ETF that tracks emerging markets, the iShares EEM, has moved to new highs, almost as if the correction earlier in the year had not happened. To firm up one’s conviction in the revival in risk appetite, we would look for a confident consolidation near these levels. Sentiment remains fragile, albeit on an improving curve.

This entry was posted on Wednesday, April 4th, 2007 at 4:03 pm and is filed under Main. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.