February 5, 2021

Sasfin Wealth – Nick’s Global Newsletter – Feb 2021

Market commentary


Global equity markets ended the first month of 2021 in negative territory following a volatile period of trading activity. The MSCI All Country World Index, a broad measure of global equity markets, ended the month down 0.5% as news surrounding the state of the pandemic, the rate at which vaccines are being deployed, and the quantum of fiscal stimulus packages continue to drive the trajectory of markets. Adding to the volatility of markets has been the ever-increasing impact of retail investors on the market as they band together to challenge the Wall Street elite.


Company soundbites


  • ASML Holding, an essential supplier of equipment to computer chip makers, posted better-than-expected sales for the fourth quarter of 2020.
  • Jack Ma is back. The Chinese billionaire’s re-emergence in a video after a three-month absence reassured investors concerned over his fate and prompted a rally in the shares of Alibaba.
  • LVMH’s biggest brands, Louis Vuitton and Dior, finished off last year strongly, delivering double-digit sales growth.
  • Microsoft reported better-than-expected quarterly results. The company showed strength across the board, getting a boost in particular from the accelerating adoption of cloud computing.
  • Netflix reported fourth quarter earnings that beat analyst expectations on revenue and net subscriber additions.
  • Philips said it expects a good start to 2021 as demand for the hospital equipment needed to treat COVID-19 patients remained strong.
  • Samsung Electronics reported a 26% boost in its fourth-quarter net profit, as the world’s largest maker of smartphones and memory chips continues to ride sustained demand for its products amid the coronavirus pandemic.
  • Siemens released preliminary results for the first quarter of its fiscal 2021, which were ahead of market expectations driven by the digital-industries business.
  • Visa experienced strong debit-card and e-commerce trends in its first quarter, resulting in better-than-expected earnings and revenue.

Kind regards,


Nicholas Dakin

Global Portfolio Manager (Cape Town)



Reproduced with permission from Sasfin Wealth

Sasfin Securities (Pty) Ltd, a member of the JSE Ltd

Registration Number1996/005886/07


29 Scott Street, Waverley, 2090 | PO Box 95104, Grant Park, 2051
+27 11 809 7500 info@sasfin.com


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