QV Equities Ltd Investment Update Transcript
Another volatile month for markets in March, Simon. Clearly on the back of what we saw with the dislocation in the banking system. Whether that was a number of banks falling over in the US, the forced merger of Credit Suisse and UBS in Europe, a lot of volatility.
On the back of that, we did see global markets are relatively buoyant, however, and particularly the world MSCI up 2.5%. A little bit surprising given the dislocation and the volatility as I said that we saw across markets and the economy in March.
Yeah, the domestic market here underperformed global peers, it was down slightly. The EX20 index was down about 0.8%, actually supported by resource stocks which were actually quite strong. So strength in the gold price and the bid by Abermarle for Liontown saw strength across the lithium sector and EV-based metal stocks, which supported the index. But yeah, quite a soft month here domestically.
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