Focusing on your companies
News of the tragic events in Paris has propagated around the world this week. Considering the market reaction to such events seems wrong, but nevertheless the market did react. As is typical for such events, there was an overreaction - the market sold down meaningfully in the immediate aftermarth. Then, within a few days, when the news has sunk in, and the realisation that an overreaction occurred, another overreaction to the upside often occurs. We have certainly seen that this week. The volatility of markets on a day-to-day basis has been high.
Your investment team looks through such market machinations, and this week has instead focused on news emanating from the many Annual General Meetings (AGMs). At their AGMs, companies usually provide an update to the trading conditions they are experiencing, and their outlook for the remainder of the financial year.