IN FOCUS6-8 min read

Schroders Equity Lens April 2024: your go-to guide to global equity markets

Share buybacks, European surprises, and everything else you need to know about global equity markets this month.

11/04/2024
Equity lens photo
Read full reportSchroders Equity Lens April 2024
49 pages

Authors

Duncan Lamont, CFA
Head of Strategic Research, Schroders

Summary:

  • Share buyback activity continues to rise outside of the US, a potential tailwind for stocks (slide 5 and read more)

  • Economic surprises have rebounded sharply in Europe and are now more positive than the US (slide 6)

  • Non-US stocks are still cheaper than US ones, and smaller stocks are cheaper than larger ones (slides 25-28)

  • Stock market returns have been better if you invested when the market was at an all-time high than when it wasn’t (slides 7-9 and read more).

  • Stocks have returned 11% above inflation in the 12-months after the Federal Reserve (“Fed”) starts cutting rates, on average (slides 10-11 and read more).

  • The Magnificent-7 are up 99% since start of 2023, the rest of the world 24%. But performance divergence among them is growing (slides 12-14)

  • Deviating from the market has been a winning strategy when concentration has been high (slide 15 and read more)

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Read full reportSchroders Equity Lens April 2024
49 pages

Authors

Duncan Lamont, CFA
Head of Strategic Research, Schroders

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