Please note this was recorded before the Microsoft and Alphabet Q1 results were announced. Gareth and Jeremy discuss the prospect of great equity market dispersal, the benign political risk of the UK, the demise of ESG, and the attractive value of UK-listed assets. Meta and Nvidia share prices are falling, and the Magnificient Seven shows signs of fragmentation. It might be too early to call. Still, there are signs of the global equity market fragmenting. Meanwhile, a new age of realism has replaced accepted ESG ideology in politics and corporate strategy. In this context, they discuss the offer for Anglo American from Aussie miner, BHP. In the UK, results and updates continue to be broadly in line with expectations, the FTSE 100 has moved to an ATH and Filtronic's share price soars into low earth orbit as they sign a remarkable deal with Elon Musk's SpaceX. In next week's news, they highlight European GDP and US jobs data next week, plus the increasingly important Japanese interest rate picture as the BoJ announces its policy rate guidance.
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