UBS analysts updated their “global top list.”
Leadership among stocks once again narrowed in June, with info technology (XLK) keeping its top seat among the sectors.
“The resilient economy should allow earnings to recover, while we expect discount factors to decline as inflation normalizes and central banks embark on an easing cycle,” Rudolf Leemann, CIO Equity Sector strategist at UBS wrote in the report.
The global top list has the highest conviction stocks from the MSCI All Country World Index (NASDAQ:ACWI). The list ranges from 20 to 25 stocks.
As commentary for June, Leemann wrote that “the first half of 2024 saw optimism in global markets, fueled by expectations of rate easing from the Federal Reserve and other major central banks, as well as growth opportunities from AI.”
For last month, analysts added Hon Hai Precision (OTCPK:HNHAF) and removed Baidu (BIDU) from the list.
Here is the full list:
- DexCom Inc. (DXCM)
- Emerson Electric Co. (EMR)
- Ferrari NV (RACE)
- Glencore Plc (OTCPK:GLCNF)
- HDFC Bank Limited (HDB)
- Hon Hai Precision (OTCPK:HNHAF)
- IntercontinentalExchange Inc. (ICE)
- Meta Platforms (META)
- MGM Resorts International (MGM)
- Micron Technology Inc. (MU)
- Microsoft Corp. (MSFT)
- NextEra Energy Inc. (NEE)
- Palo Alto Networks (PANW)
- Ralph Lauren Corp. (RL)
- Rolls-Royce Holdings Plc (OTCPK:RYCEY)
- Ryanair Holdings Plc (RYAAY)
- Salesforce.com (CRM)
- Samsung Electronics Co. (OTCPK:SSNLF)
- Seven & i Holdings Co. (OTCPK:SVNDY)
- Taiwan Semiconductor Manufacturing (TSM)
- Thermo Fisher Scientific (TMO)
- TotalEnergies (TTE)
- Visa Inc. (V)
- Yum! Brands Inc. (YUM)