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Weekend Roundup

No rain this morning! #weekendroundup

Returns of selected markets over the last week and since 1st January. This week is sorted by the last week. Sorted by the last year can be found at the end of this post.

Knock out earnings numbers from Nvidia and the Nikkei 225 surpasses 1989’s high for the first time. Other equity markets also make gains, with many ending the week at all-time highs (MIB, CAC 40, DAX, and S&P 500). The UK lags. Signs of life in metals? Nickel is up 7% on the week.


As Stuart Kirk pointed out in his column in today’s FT, the Nikkei 225 is a rather odd index. “It is an average of all the share prices; so, a small company with a high share price moves the index more than a megacap with a low share price.” The Topix is a market cap-weighted index of 2,115 companies and is much more representative of the overall health of the market. In contrast to the Nikkei, the Topix is still 10% off its all-time high of 35 years ago.

It strikes me that the Japanese market will run further this year and carries a decent risk/reward idea. I’m glad I added Nippon Active Value to The Funds’ Portfolio last May; perhaps my weighting of 5.7% should be increased.


JIC Portfolio

The JIC Portfolio was down 0.4% last week compared to +0.1 per cent for the FTSE All Share. YTD, JIC is down 5.9% compared to -0.3% for the All Share.


For the five years to 23 February, JIC is up 42.8%. Over the same period, the FTSE All-Share TR Index was up 27.4%.


The AIM All-Share is down 1.8% this year, the FTSE 250 is down 2.3%, and the FTSE Small Cap (Ex Investment Co) is down 3.0%.


JIC Funds' Portfolio

The Funds’ Portfolio was down 0.3% last week. The FTSE All-World (GBP, TR) Index was up 0.7%.

YTD, the Funds’ Portfolio is up 0.1% v +5.4% for the All-World.


More than 5 per cent over the last week


Positives: Me Group International, +16.1% and Wilmington +9.3%


Negatives: Serica Energy -9.9%, Hargreaves Lansdown -9.7%, Harbour Energy -6.2% and Glencore -5.9%.


New Highs last week

Three-month high from Me Group and JP Morgan US Smaller Companies. 12-month highs from Jet2, Gamma Communications and Wilmington All-time highs from Bioventix, 4imprint, Fundsmith, JP Morgan American, Polar Capital Technology and Polar Capital Healthcare.


New Lows

3-month low from IG Design and Polar Capital Holdings. 12-month lows from BlackRock World Mining, Serica Energy, BlackRock Energy & Resources Income, Glencore and Sylvania Platinum.


Last week’s trades, news, and ex-dividends


No trades in either portfolio.

Wilmington's half-year results were solid.  Me Group International beat the profit forecasts for the year ended October 2023. The share price jumped 20% on the day.

Glencore results were much as expected, given weak commodity prices. Hargreaves Lansdown’s half-year results did not do enough to change sentiment towards the company, and Sylvania Platinum’s results were also impacted by suppressed PGM prices.

No ex-dividends last week.  


Upcoming Events and ex-dividends

I can’t see any scheduled announcements for my holdings next week, but as always, I’ll be ready!

On Thursday, Hargreaves Lansdown goes ex 13.2p, Sylvania Platinum 1.0p and Wilmington 3.0p.

On Thursday, Polar Capital Global Healthcare pays its dividend of 1.2p, and on Friday, IG Group pays its dividend of 13.56p.


20.4% of the JIC Portfolio comprises five commodity holdings – down from 21.6% last weekend.


Have a great weekend.

Food for thought!



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