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Updates

We provide updates on our portfolio, including the most relevant information to keep you informed about market developments and our perspectives. While we do not offer direct investment advice, you are free to follow our portfolio and leverage its insights. We maintain 100% transparency, giving you access to our live portfolio and the updates we share.

Updates

Breathing a Sigh of Relief After the Greenland Saga

The British stock market experienced a cautious trading week, in which geopolitical tensions created some noise but caused no lasting damage. Threats from the United States regarding additional import tariffs briefly stirred up market jitters, but these quickly faded following diplomatic talks at the World Economic Forum. This shift gave markets the space to stabilise. In London, the impact remained limited, partly due to the defensive composition of the FTSE, where energy, commodities, and financials offered protection against uncertainty.

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Updates

Geopolitical Pressure and Strategic Value

And so, investors concluded a hectic week on the markets. Markets were flooded with news from Washington, where concerns resurfaced about the independence of the Federal Reserve. At the same time, geopolitical tensions escalated, with Iran and, unexpectedly, Greenland emerging as flashpoints. That unrest intensified on Friday after President Trump threatened import tariffs on countries he claimed were “not cooperating on the Greenland issue.”

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Updates

New Highs and Selective Profit-Taking

The stock market began the year with confidence. The FTSE 100 broke through the 10,000-point barrier, signalling that investor optimism remains very much alive. Interestingly, this strength did not come from the usual growth stories, but rather from the more “boring” corners of the market. Energy and defence stocks were in the spotlight, driven by geopolitical tensions and a growing focus on security and strategic independence. Investors were seeking stability, visible cash flows and companies positioned to benefit from an increasingly turbulent world. At the same time, the macroeconomic backdrop remained surprisingly constructive. Inflation figures failed to trigger fresh market jitters, and investors continued to believe that central banks may have room to cut interest rates later this year. This created an uneasy but powerful combination: on the one hand, caution around valuations; on the other, enough confidence to continue taking risk. The result was a market that did not surge, but continued to edge higher, step by step.

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Updates

A New Year, Full Focus from the Start

We wish everyone a happy New Year. With fresh energy, a clear outlook, and new ambitions, we step into 2026. But for anyone who thought the year would begin quietly, reality had other plans. Not even a week in, the world was shaken by an event that seemed taken straight from a film script. In less than five hours, the United States abducted Venezuelan President Nicolás Maduro straight out of Caracas. A meticulously planned military operation, executed by the elite of the US armed forces and followed live by President Trump. Helicopters, drones, cyberattacks, disabled air defences, and a lightning-fast extraction. It was a demonstration of US military dominance in its purest form and caused global astonishment. Regime change, sovereignty, and geopolitical escalation are suddenly no longer abstract terms but very real developments.

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Updates

A Year to Be Proud Of!

As the Christmas lights glow once again, the final trading days of the year pass by, and 2025 steadily draws to a close, this is the perfect moment to look back together. Christmas and New Year are, above all, days of reflection, gratitude, and anticipation for what lies ahead. And as we reflect at Sharesunderten, we do so with a big smile. We are closing out 2025 with a fantastic return of 41.1%. This means that members who have faithfully followed our advice have seen outstanding results. That is ultimately what we do it for, and we are genuinely proud and deeply grateful. 2025 also brought some real standouts, shares where timing, vision, and courage all came together. Golgonda Gold exploded by 130% in under a month. Our old favourite, Rolls Royce, also doubled this year, adding to an already substantial gain and bringing us to an impressive total return of nearly 1,300%. Two of our most recent picks, Kloeckner & Co and Kistos, also showed how quickly things can move once the market wakes up. Following confirmation of takeover talks, the latter has already gained nearly 40% in less than six weeks. There is also Glencore, a share that continues to climb steadily. We are now up nearly 35% on this one as well, and we expect much more going into 2026. Christmas is about togetherness, trust, and looking ahead. The same applies to investing. On behalf of the entire Sharesunderten team, we would like to thank all our members for their trust over the past year. We wish you a joyful holiday season and a healthy, happy, and above all profitable 2026.   BP BP has taken an important strategic step by selling a 65 percent stake in Castrol to Stonepeak, based on an enterprise value of 10.1 billion dollars. The valuation of around 8.6 times LTM EBITDA highlights the quality and growth profile of Castrol and confirms that BP is able to unlock value at attractive levels. The transaction is expected to generate approximately 6.0 billion dollars in net proceeds for BP. This amount will be used entirely for debt reduction. At the end of the third quarter of 2025, net debt stood at 26.1 billion dollars, and BP is aiming for a range of 14 to 18 billion dollars by the end of 2027. This divestment brings that goal within closer reach and significantly reduces the company’s financial risk. Importantly, BP will retain a 35 percent interest in Castrol. This means the company will continue to benefit from Castrol’s strong operational performance, which has now delivered year-on-year profit growth for nine consecutive quarters. After a two-year lock-up period, BP will also have the flexibility to sell this remaining stake at a later stage, offering additional strategic options. The sale of Castrol. fits within the broader plan to divest 20 billion dollars in assets. With this deal, more than half of that programme has now been completed or announced. At the same time, BP is simplifying its portfolio, focusing more clearly on its core business, and structurally improving its cash flow. For us, this transaction confirms that BP is making deliberate choices. Value is being realised, the balance sheet is being strengthened, and the business is being streamlined and made more profitable. Combined with continued exposure to Castrol and an improved financial position, we see every reason to hold on to BP with confidence as we enter 2026.   Grab Holdings This listed company continues its steady progress towards profitability, delivering a profitable third quarter in 2025 and raising its outlook, while its share price has recently pulled back, offering a potential entry point. Its super app ecosystem, with strong network effects between mobility, delivery, and financial services, is now showing clear operational leverage. Core segments are growing solidly, margins are improving, and revenues from advertising and fintech are strengthening monetisation. Despite ongoing competition and continued investment, the balance sheet remains very strong with a substantial net cash position. The valuation appears attractive in relation to the growth potential and market penetration in Southeast Asia. Increasingly, peer analysts and strategic desks are recognising this combination of scale, profitability, and underutilised market opportunity. Needless to say, we share this view. Grab is evolving from a growth story into a sustainably profitable platform. In that context, we believe the share is structurally undervalued.   Glencore Glencore shares continue to rise, and the company is making impressive progress. This is also evident in its latest move, acquiring a majority stake in Dutch company FincoEnergies. The market views this mainly as a way to further strengthen its position in the Northwest European fuels market. FincoEnergies is a strong independent player focused on sustainable fuels and providing solutions for decarbonisation. Think of biofuels via GoodFuels, programmes like GoodShipping, and services such as FuelEU Pooling, which help transport companies meet stricter sustainability requirements more easily. This acquisition fits within Glencore’s broader ambition to grow its marketing and trading activities. The company has already raised its earnings target for this division, supported by expansion into new markets and product lines. In 2025, the picture is clear. Metals trading is performing strongly, offsetting weaker energy trading, as energy markets have returned to more normal conditions after a period of extreme volatility. With FincoEnergies, Glencore gains additional scale and access to a key region, precisely where demand and regulation are set to grow in importance over the coming years. Sharesunderten sees this as a strong candidate for the year ahead.

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Updates

The calm before a new interest rate era?

Markets closed strongly last week, supported by favourable interest rate decisions and a reassuring tone from central banks. In both the United Kingdom and the United States, markets reacted positively to signals that inflationary pressure is continuing to ease and that monetary policy may gradually be relaxed towards 2026. No shocks, no surprises, just the kind of stability investors have been looking for. This brought relief, renewed confidence, and a constructive mood as the year draws to a close. The calm feels well-earned after an intense year for markets, but that does not mean the tension has disappeared. The coming week will see the market shift into holiday mode, with shorter trading days, lower volumes, and many major players having already secured their positions. In both the UK and the US, the market will be running at half speed. Precisely because of that, sensitivity may increase. In thin trading, even small signals can trigger relatively large price movements, which makes this quiet week potentially more meaningful than it may appear at first glance. In the United States, attention will focus on the last macroeconomic data before year-end. The final GDP figure for the third quarter will offer one more look at the underlying strength of the economy, while weekly jobless claims will be closely watched. Normally not a major data point, but at this stage, crucial. The labour market remains the key to the Federal Reserve’s interest rate outlook. As long as the economy cools without truly weakening, the scenario of rate cuts next year remains intact, and that is exactly what the market is anticipating. The picture in the United Kingdom is similar. After the recent interest rate decision from the Bank of England, the economic agenda is fairly light, but the market remains alert. Falling inflation offers room to manoeuvre, while the economy is showing cautious signs of stabilisation. Investors are increasingly accepting that the peak in interest rates is probably behind us and are looking ahead more clearly to early 2026. January will be important, when fresh inflation and growth figures must confirm whether further easing is genuinely within reach.   BP BP has announced a change in leadership. The board has appointed Meg O’Neill as the company’s new CEO, effective 1 April 2026. She joins from Woodside Energy, where she led the company to become the largest energy producer on the Australian stock exchange. Current CEO Murray Auchincloss is stepping down with immediate effect and will remain in an advisory role until the end of 2026. Until O’Neill takes over, Carol Howle will serve as interim CEO. This appointment signals a clear move towards acceleration. O’Neill is known for her focus on discipline, capital allocation, and operational improvement. The board has emphasised that BP must become simpler, leaner, and more profitable. For investors, this is a clear signal. BP wants to pick up the pace and create renewed value for shareholders. We are already up nearly 20 per cent and are holding on to the stock.   Grab Holdings Grab is taking a new step towards autonomous driving. The Southeast Asian super-platform has entered into a strategic partnership with Momenta, a leading company in autonomous driving technology, and has also taken a strategic stake. Together, they are exploring how advanced driver assistance systems and robotaxi solutions can be rolled out in the complex urban markets of Southeast Asia. Momenta combines large-scale ADAS technology, already used by manufacturers such as Mercedes-Benz and BMW, with the development of fully autonomous robotaxis. By integrating this technology directly into vehicles, autonomous mobility can be scaled without expensive modifications. For Grab, this represents a key step towards making autonomous transport safe and commercially viable within its platform. A clear investment in the future of mobility. We remain confident in the stock, which stays in our 2026 portfolio.   Rolls-Royce Rolls-Royce jumped nearly 7 per cent last week, benefiting from continued optimism around defence spending and nuclear energy in the UK. Investors increasingly see Rolls-Royce as a strategic winner in a world where energy security and defence are back at the top of the political agenda. With strong cash flows, improved margins, and growing attention for small modular reactors, sentiment around the stock remains positive. The share price movement underlines that the market no longer sees Rolls-Royce as a recovery story but as a structural growth company. In 2025, Rolls-Royce delivered a gain of over 100 per cent, making it a clear winner in our portfolio. We have high expectations for the stock again in 2026.

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Updates

Central Banks, AI Optimism, and Strategic Moves

Last week, investor tension rose significantly. All eyes were on the interest rate decision by the US Federal Reserve. On 10 December, the Fed cut rates again by a quarter of a percentage point. This was the third rate cut this year. The aim is to support the cooling labour market, while inflation remains persistently high. It appears that President Trump is hoping for even lower rates. When asked by journalists, he stated that the United States should have the lowest interest rate in the world. In response to how low that should be, he answered, less than 1 percent. In Europe, the narrative is different. ECB board member Isabel Schnabel noted that the next move could be an interest rate increase rather than a cut. That will not happen immediately, but the option is on the table. During the upcoming meeting on 18 December, the ECB may also revise its growth forecasts. For now, interest rates are expected to remain unchanged. This suggests that equities may still be the only viable option for capital growth. Yet, the markets appear to be standing at a crossroads. On one hand, a surprisingly large number of companies exceeded expectations last quarter. In our view, this is mainly due to steady improvements in AI and automation. Companies are benefiting in concrete ways. Routine tasks can now largely be handled by computers, processes are becoming more efficient, and cost control has improved. This is clearly reflected in the results. On the other hand, investors seem to be growing more cautious. After the strong rebound in recent months, valuations now need to be justified by real and measurable returns from AI. This turns out to be more challenging than the market had anticipated. Last week’s results from Oracle and Broadcom were somewhat disappointing. Not because of poor performance, but because they simply could not meet the very high expectations that are already priced into their shares. The bar has been set extremely high. A Busy Week for Macroeconomic Data The coming week will be full of key macroeconomic events. On Tuesday, we will receive a series of important PMI figures from Europe, the United Kingdom, and the United States. These indicators provide an up-to-date view of economic activity in both manufacturing and services, and often shape short-term market sentiment. Later on Tuesday, significant US labour market data will follow, including non-farm employment change, unemployment figures, and wage growth. These are crucial for the Federal Reserve’s interest rate policy and may lead to increased volatility. On Wednesday, attention will shift to UK inflation, with the release of CPI figures. Thursday will be a major day for central banks. Both the Bank of England and the ECB will announce rate decisions and give their statements. Markets will pay close attention to the tone of these remarks and the press conferences that follow. Finally, on Friday, the UK retail sales figures will be released. These provide insight into the strength of consumer spending towards the end of the year. Kistos Delivers Strong Start Kistos was added to the portfolio only recently, but is already demonstrating why it was selected. The company announced an acquisition in Oman that will immediately contribute to cash flow and production. Kistos is acquiring a 5 percent interest in Block 9 and a 20 percent interest in Blocks 3 and 4, all located onshore in Oman. The total acquisition value is 148 million US dollars and will be fully funded from Kistos’ existing cash position. This is important, as it avoids dilution or additional debt. The acquisition adds an estimated 25.6 million barrels of oil equivalent in 2P reserves. In addition, Kistos expects to produce around 9,000 to 10,000 barrels of oil equivalent per day in 2025, with approximately 91 percent consisting of liquids. This makes revenues relatively stable and attractive. One of the most appealing aspects of this deal is the price. Kistos is paying around 5.80 dollars per barrel for proven and probable reserves, which is low compared to many similar transactions in the sector. The acquisition is immediately cash flow positive. It also marks Kistos’ first entry into the Middle East, providing geographical diversification alongside its current operations in the North Sea. The deal fits the company’s strategy of acquiring assets that offer immediate production with long-term potential. According to management, total production is expected to increase to approximately 20,000 barrels per day by 2026. The market welcomed the news, and the share price rose by 35 percent in just a few days. We see this as a clear quality boost for the company. Cash flows should improve significantly in upcoming reports as earlier investments begin to pay off. We are holding our position for now. HelloFresh: Time to Exit HelloFresh shares have been under pressure for several months and have shown no clear signs of recovery. Competition in the meal kit market remains intense and continues to grow, while structural growth appears to be slowing. This puts pressure on margins and makes the business model more vulnerable than we initially assessed. The stock was also hit by a critical short report, which further weakened sentiment. Combined with several downgraded analyst recommendations, confidence in a swift recovery has declined sharply. Although HelloFresh remains a recognised name, we currently see more attractive opportunities elsewhere in the market. We have therefore decided to sell HelloFresh, accepting a loss of nearly 30 percent. While disappointing, we believe it is more important to free up capital for better opportunities than to wait for a recovery without clear catalysts. New Share Under Ten The next Share Under Ten comes from a part of the market that many investors still tend to avoid. Not because the company is weak, but because it lies outside the usual comfort zone. This is a firm with decades of history, a business that has become essential worldwide, and one that is benefiting from several structural growth trends. Think of technologies you use every day, yet rarely notice. Think of industries

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Updates

A Home Run in a Cautious Market

Last week highlighted how quickly market dynamics can shift. A newly added position moved sharply within days as speculation resurfaced, forcing a decision between holding on or taking profits while uncertainty remained. Such moments underline the importance of discipline when exceptional short-term returns present themselves. Meanwhile, broader markets remained cautious, with investors focused on upcoming central bank decisions. Economic data from the United States suggests cooling momentum, while Europe and the UK continue to show a mixed picture. Against this backdrop, sentiment is fragile but increasingly responsive to signals around interest rates and policy direction.

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Updates

A Winning Streak for SUT Stocks and Signs of a Year-End Rally

It has been a notably strong week for the portfolio, with gains recorded across the board. Such broad-based performance often reflects improving underlying market conditions rather than isolated developments. Several sectors showed renewed strength, supported by rising expectations that interest rates may soon move lower. Despite ongoing geopolitical and economic risks, markets continue to demonstrate resilience. As the year draws to a close, attention is shifting to whether this momentum can carry through into a potential year-end rally, supported by policy signals and incoming economic data.

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Updates

Investors Are Getting Their Mojo Back

Something is beginning to shift in Europe. Inflation is easing, growth is slowing, and markets are responding quickly to the prospect of lower interest rates. While policymakers remain cautious, investors are increasingly positioning for a change in direction. Recent comments from central bank officials have fuelled sharp moves, particularly in interest-sensitive sectors. With key data releases and policy meetings approaching, sentiment remains highly reactive. The balance between caution and optimism will likely define market behaviour in the weeks ahead.

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Updates

Market Calm Amid Tech Turbulence

Last week delivered one of those split-screen moments for investors: political relief on one side, rising anxiety about inflated tech valuations on the other. The end of a government shutdown briefly calmed nerves, but attention quickly shifted back to stretched prices in the most crowded corners of the market. While some high-flyers look ready for a pause, a different part of the market is quietly drifting lower from already modest levels. There, a temporary pullback can actually improve the long-term risk-reward. With a fresh batch of macro data due and a major chip company about to report results that could sway sentiment far beyond its own sector, the coming days may offer a clearer view of where genuine opportunity is emerging.

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Updates

Shutdown Resolution Inches Closer

Last week, a sudden price shock in one of our holdings reminded everyone how quickly sentiment can turn, especially when market moves appear to be driven by more than just fundamentals. At the same time, voices calling for a broad correction are getting louder, often from those who sat out the rally and now feel every uptick as an accusation. In the background, politics continues to interfere. A partial resolution to a prolonged budget standoff in the United States has reduced immediate risk, but new tensions are already on the horizon. In the UK, upcoming labour market figures and monthly growth data could influence the timing of the next rate moves. Together, these factors create a market where noise levels are high, but value still hides in places that attract little attention.

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Updates

The Fed Blinks First, Markets Cheer, but Risks Remain

So much for predictable policymaking. The Federal Reserve surprised markets by cutting interest rates, even though inflation has not yet convincingly moved toward target. Some voices within the central bank itself have questioned whether the step came too soon, especially given a labour market that is softening rather than collapsing. New import tariffs add another layer of uncertainty to the inflation outlook. Investors, however, chose to focus on the comfort of cheaper money. This week, purchasing managers’ indices will offer a more up-to-date snapshot of economic momentum, while several other central banks prepare their own decisions. At the same time, companies across sectors such as energy, technology and staffing will present fresh results. Their guidance may tell us more about underlying demand than any speech or policy statement.

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Updates

Rate Cut Approaching as Trump Stirs the Pot Again

The new trading week arrives with a packed agenda. Earnings season is in full swing, central banks on both sides of the Atlantic are preparing key interest rate decisions, and a lingering political standoff continues to disrupt the normal flow of economic data. Many investors expect another modest rate cut from the US central bank, encouraged by softer business surveys and signs that the labour market is losing momentum. In Europe, policymakers appear more inclined to wait and observe. At the end of the week, inflation figures from the United States could either validate the recent policy shift or raise questions about timing. Meanwhile, trade tensions and tariff threats are creeping back into the headlines. In such an environment, short-term volatility is almost guaranteed; sustainable opportunity is not.

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Updates

Earnings Season Picks Up Speed

The earnings season is now in full swing. After major US banks like JPMorgan, Bank of America, and Goldman Sachs set the tone with strong results, the big tech names take the stage this week. Netflix, Tesla, IBM, and Intel will kick things off, followed by a range of European heavyweights. Expectations are high: investors are looking for more clarity on how companies are coping with rising financing costs and a slower growth environment. With parts of the US government still shut down and official data on employment and retail sales unavailable, corporate earnings take on even greater importance. In the absence of hard economic figures, market sentiment is being shaped by what companies themselves report, making this a crucial and potentially volatile week. Politics continues to linger in the background. US Treasury Secretary Scott Bessent is meeting his Chinese counterpart He Lifeng in Malaysia, in an attempt to ease ongoing trade tensions. Still, most market attention is focused on Friday, when long-awaited US inflation data will be released. These figures will be key for the Federal Reserve, which is increasingly questioning whether inflation is truly under control. Elsewhere, figures on Chinese growth, UK inflation, and Japanese consumer prices will be released throughout the week, but the main focus clearly lies at the end of the week. Until then, all eyes are on company results, which remain the most reliable barometer of the state of the economy.   Cadeler Cadeler was the most notable mover within the portfolio this week, falling by around 10%. Interestingly, CEO Mikkel Gleerup took this opportunity to buy in: on 16 October, he purchased approximately 4,000 shares. This insider purchase is seen as a vote of confidence in the company’s future, which is active globally in the installation and maintenance of offshore wind farms. Analysts remain positive: the latest recommendation is Buy with a price target of $23.50. AI analyst Spark from TipRanks also rates the stock as Outperform. Despite temporary pressure on cash flow, revenue growth remains robust, and the valuation still looks attractive in light of the long-term outlook.   Centrica Centrica also came under the spotlight this week. Barclays raised its recommendation to Overweight, with a new price target of 210 GBX, suggesting an upside potential of over 20% from current levels. Other banks followed suit: RBC raised its target to 200 GBX (Outperform), Berenberg to 190 GBX (Buy), while JPMorgan and Citigroup made smaller adjustments, maintaining Neutral and Buy ratings respectively. Our target price has now been reached, but we are holding the position as we still see further upside.   Grab Holdings Grab Holdings remained relatively stable on the market, despite Nordea Investment Management AB further increasing its stake. The asset manager purchased over 437,000 additional shares, bringing its total holding to more than 17.19 million shares—worth approximately $87.6 million. Grab reported a net profit margin of 3.65% for the past quarter and earnings per share of $0.01, in line with expectations. DBS Group Research raised its price target from $6.35 to $7.55. While the share price has yet to move significantly, institutional investor interest continues to rise. According to Sharesunderten, this may signal that the market anticipates a valuation recovery once a clear growth catalyst emerges. We are maintaining our position in the stock for now.

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Updates

Trump Escalates Trade Tensions, Shutdown Drags On

What began as a seemingly calm period ended with a familiar pattern: sharp political rhetoric, renewed trade tensions and an abrupt sell-off in major equity indices. A fresh round of threats aimed at a key trading partner rattled markets already unsettled by an unresolved budget deadlock. Yet it took just a few reassuring social media posts to reverse much of the damage as futures turned higher and talk of compromise resurfaced. With the flow of official economic data restricted, the start of a new earnings season takes on added importance. Company results and outlooks may provide the clearest clues about demand, pricing power and investment plans. For now, investors are forced to navigate a landscape where sentiment can flip in hours, while fundamentals move at a slower, more stubborn pace.

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Updates

Markets Climb as U.S. Government Shutdown Halts Key Data

The coming days revolve around a single unresolved question: how long will the partial shutdown of the US government continue, and how much damage will it do? Official statistics are already being delayed, leaving markets dependent on private surveys and incomplete signals. One major jobs indicator has hinted at weakening momentum, fuelling speculation that the central bank could cut rates sooner if conditions deteriorate further. Equity markets, however, appear strangely relaxed, with key indices recently touching record highs. Our portfolio remains skewed toward Europe, where data is more readily available and policy signals clearer. A newly added industrial name is preparing a move to a more prominent stock exchange listing, while another holding in the renewable energy space continues to strengthen its fundamentals despite a flat share price. In both cases, time may be the most important catalyst.

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Updates

Rate Worries, Resilient Stocks, and Record Gold

Despite ongoing concerns about interest rates, equity markets remained surprisingly resilient last week. Investors seem to be holding on to the expectation that central banks will start easing later this year, which has helped prevent a broad correction and pushed major indices slightly higher. At the same time, markets sought protection, with gold reaching another all-time high. A combination of

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Updates

Central Banks Shift Gears, Markets Rally on Fed Cut

Last week, markets got exactly what they were hoping for. The Federal Reserve cut interest rates and signalled that this may just be the beginning. Investors responded with enthusiasm, triggering a sharp rally across equities. While the ECB, the Bank of England, and the Bank of Japan held their rates steady, Norway surprised markets with an unexpected cut. The message

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Updates

Markets Await Fed Cut, Portfolio Delivers Again

The coming trading week will be dominated by the Federal Reserve’s interest rate decision. Expectations are high that the US central bank will begin its first rate-cutting cycle since last December. This makes the week particularly important, as the tone set by Jerome Powell could determine market direction for the final months of 2025. On the macroeconomic front, several key

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Updates

All Eyes on Interest Rates, Portfolio Continues to Perform

This week, markets will focus primarily on the European Central Bank’s interest rate decision and new inflation figures from the United States. These indicators are expected to shed more light on the likelihood of a rate cut by the Federal Reserve. Recent employment reports from both ADP and the U.S. government suggest a further cooling of the American labour market,

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Updates

Eyes on Rate Cut, Portfolio Continues to Perform

This week, all eyes are on the upcoming US jobs report, due this Friday. Before that, investors will be parsing through a series of purchasing managers’ indices (PMIs) for both manufacturing and services, along with fresh inflation data from the eurozone. With Wall Street closed today (Monday) for Labor Day, trading is expected to remain relatively subdued. July’s US job

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Updates

Interest Rate Outlook, Political Tensions and Corporate News

In his speech last Friday, Federal Reserve Chair Jerome Powell opened the door to a possible rate cut in September. At the same time, he downplayed expectations for aggressive action, making a 50-basis-point cut highly unlikely. Markets reacted positively to the prospect of a cut, with gains recorded both on Wall Street and in Europe. The macroeconomic week begins with

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Updates

Weekly Update: Quiet Start, Focus Shifts to Central Banks and Geopolitics

The international earnings season is gradually drawing to a close. Most major companies have now reported their results, and in many cases the figures have been better than expected, with improvements in margins and cash flows. This allows us to close out the summer period with renewed confidence in the fundamentals of our portfolio. In the coming week, investor attention

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Updates

Weekly Update: Earnings Season Ends Strong, Focus Shifts to Inflation

Weekly Update: Earnings Season Ends Strong, Focus Shifts to Inflation The summer earnings season is all but over, and many of the stocks in our Sharesunderten portfolio have delivered solid to strong results. Companies not only exceeded expectations but also showed improvements in margins, cash flows, and growth forecasts. As a result, we close this period with confidence in the

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Updates

Weekly Update: Volatility Persists Despite Trade Agreements

The fact that one major trading partner after another is reaching agreements with the United States has not yet restored calm to the financial markets. Both in the UK and abroad, this summer’s earnings season continues to be followed by sharp share price movements. Expensive stocks combined with ongoing uncertainty are keeping investors alert. In many ways, this summer resembles

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Updates

Weekly Update: Nuclear Energy and Earnings Season Fireworks

Earnings season has begun. What immediately stands out: companies are reporting surprisingly strong results, despite a world full of uncertainty. Currency risks, geopolitical tensions, and the looming import tariffs set for August 1st create a volatile backdrop. But for those who stay focused, the main story is one of profit growth, resilience, and new opportunities. At SUT, we remain active,

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Updates

Portfolio Update, Current Outlook

We’re seeing more and more investors embrace our investment strategy: buying undervalued stocks under 10 euros with serious upside potential. The stock Rolls-Royce, on which we’ve achieved nearly 1,000% gains, is clear proof that you can turn a nickel into a dime. In this update, we provide a clear overview of the positions we currently hold in the Sharesunderten.com portfolio.

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