After a tumultuous 2020 for corporate earnings, the Australian equities earning cycle is starting to gather momentum. Consensus earnings upgrades are at all-time highs, providing a platform for the start of a V-shaped recovery for earnings.

The resilience of the US stock-market has been impressive, though we continue to believe there is more upside in the rest of the world (DM and EM) on a 12-month view given less expensive valuations and more earnings leverage to a re-opening global economy. 

Overall, we remain constructive on global (and Australian) equities due to the supportive backdrop of low interest rates and a recovering economic/earnings cycle. 

Wilsons is pleased to have acted as Joint Lead Manager to the recent placement to wholesale investors by the MCP Master Income Trust (ASX.MXT; “MXT” or the “Trust”) to raise approximately $191.8 million (the “Placement”).

Given the significant global economic and profit recovery still ahead of us, we continue to see good prospects for equities over the coming year.

In the Behind the Strategy video for second quarter of 2021, Wilsons Head of Investment Strategy David Cassidy, and Head of Australian Equities John Lockton discuss the outlook for global and domestic markets.

China is one of the most important economic superpowers in the world. It is the second-largest economy representing ~18% of global GDP, 70% of annual iron ore demand and 38% of the MSCI Emerging Markets (EM) market cap.

Wilsons is delighted to announce the appointment of three key roles across our Corporate Finance and Institutional Equities teams.

Conviction Insights represents our highest conviction calls from across our coverage universe. This month we add Pacific Smiles Group (PSQ) to our Conviction Insights lineup. An independent operator of dental clinics in Australia, its addition is driven by 4 key factors: