Country Ranking Model - June 2023
Source: MSCI
June Country Rankings
Chile (#1): Moving into first place this month is Chile with the strongest fundamentals in our universe. Chilean earnings growth, sales per share and ROE have remained very strong this year. Chile also has the most attractive valuations in our universe, as evidenced by an impressive earnings yield of 17.9%. Other factors that have helped Chile include the Chilean Peso remaining remarkably stable, consistently trading near the 1 USD: 800 CLP mark. Also,China’s economic re-opening has boosted the country’s important commodity industry. Fully 67% of Chile’s copper exports go to China.
Spain (#2): Spain’s economy has been resilient in the face of slowing global economic growth. In fact, the Bank of Spain recently raised its forecast for Spain's GDP in 2023, predicting that it will grow by 2.3%, 0.7% higher than its previous forecast in March.
Poland (#3):
Poland has a growing tech sector and is benefitting from an influx of investment from large multinational companies looking to diversify their operations away from China. Alphabet, Visa and Intel are just a few of the companies that have announced major projects in the country this year. Last year foreign companies created 43,000 new jobs in the services industry alone, a 40% increase from 2021. Part of the reason for this boom is the improvement in Poland’s trade balance which has helped the zloty appreciate to a two-year high against the euro.
Country Performance:
Data as of 5.31.2023
Source: MSCI
Country Ranking Model
As of 5.31.2023
Disclosures: This information was produced by and the opinions expressed are those of Accuvest as of the date of writing and are subject to change. Any research is based on Accuvest proprietary research and analysis of global markets and investing. The information and/or analysis presented have been compiled or arrived at from sources believed to be reliable, however Accuvest does not make any representation as their accuracy or completeness and does not accept liability for any loss arising from the use hereof. Some internally generated information may be considered theoretical in nature and is subject to inherent limitations associated therein. Any sectors or allocations referenced may or may not be represented in portfolios of clients of Accuvest, and do not represent all of the securities purchased, sold or recommended for client accounts.
The reader should not assume that any investments in sectors and markets identified or described were or will be profitable. Investing entails risks, including possible loss of principal. The use of tools cannot guarantee performance. The charts depicted within this presentation are for illustrative purposes only and are not indicative of future performance. Past performance is no guarantee of future results. Actual results may vary based on an investor’s investment objectives and portfolio holdings. Investors may need to seek guidance from their legal and/or tax advisor before investing. The information provided may contain projections or other forward-looking statements regarding future events, targets or expectations, and is only current as of the date indicated. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. The information presented, including statements concerning financial market trends, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.