WEEKLY UPDATE
🔆2024 WEEK 34, Aug 19 – 25
Dear Investors, Followers and Copiers,
Last week’s US inflation data confirmed that inflation continues its downward path. PPI (Producer Price Index) showed that prices increased 0.1% and Consumer Prices increased 0.2% last month. Over a year Consumer Prices are up 2.9%, down from 3% in June, according to Bureau of Labor Statistics. After stripping out shelter, CPI is up only 1.7% in July. Investors increasingly focus more on unemployment data than on inflation. Easing inflation and cooler labor market makes September interest rate cut very likely.
Corporate earnings are strong as well as Consumer Spending. On Thursday Retail Sales came in much stronger than economists expected.
In Europe inflation in the UK rose to 2.2% in July, slightly below expectations. Last month the Bank of England cut interest rates by 25 b.p.
🌍Macro view
Inflation is moderating; the recent economic data is better than expected and employment is still robust. So, the chances of soft-landing scenario and interest rate cuts by the Fed are improving.
$DJ30$SPX500$NSDQ100
PORTFOLIO NEWS OF THE WEEK
💵Earnings Last Week
On Aug 15 $FORTUM.HE (Fortum Oyj) reported Q2 earnings. Sales of EUR1.25B were 8% lower than a year ago due to lower power prices. Comparable EPS of EUR0.2 per share was 25% higher than in Q2 2023 mainly due to improved electricity sales margins.
🍰Ex – Dividend Dates This Week
The following Ex -Dividend Dates are expected this week.
🍒Aug 19 HIW
A quarterly dividend of $0.50 per share (in line with previous) will be paid on Sept 10. The yield is 6.3%.
🍇Aug 21 WBA
A quarterly dividend of $0.25 per share (in line with previous) will be paid on Sept 12. The yield is 9.2%.
🍓Aug 22 LGEN.L
A semiannual dividend of GBP0.06 per share will be paid on Sept 27. The yield is 9%.
👉Portfolio’s Top Stock Movers
Last week the following companies belonging to our portfolio had the biggest stock price changes.
🥇Winners: NEP +7.3%, BMY +5.65%, ERIC-A.ST +5.6%
↘️Laggards: HR -3.25%, BCE -1.94%, OHI -1.63%
📈Performance
Last week the main sectors within the portfolio performed as follows.
REITs are up 0.17%
Telecoms are up 0.83%
Utilities are up 2.2%.
The portfolio is up 0.5% for the week.... Show More
