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June review: Vetiva Research Conviction Stocks
| In June, the All-Share Index was dominated by bearish activity. The ASI lost 2.21% m/m amid sell-offs following the hike in MPR to 13%. Our conviction stocks were not immune to this decline, as they lost 0.73% m/m. This decline mirrored the broad market, as Banking names led the contraction, followed by Consumer and Industrial Goods. | |||||
| Oil & Gas was the best performer in the portfolio, as crude prices held steady above $100/bbl once again. However, the returns in the sector were minimal, with SEPLAT rising 0.8% m/m while TOTAL remained flat. | |||||
| Our Industrials and Consumer Goods stocks declined slightly, with investor sentiment weakening over the course of the month. DANGCEM lost 1% m/m, while WAPCO fell by 2% and DANGSUGAR dropped 4% m/m. This dragged the conviction stocks’ performance by -0.5%. |
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