1. Assessing software – Where are the valuation multiples?

The software group is trading 41% below the 5-year average.

2. European equities are seeing big inflows.

"For years, fund managers were selling European assets, which benefited the U.S.

That trend is done and is now reversing."

3. AI adoption boosts productivity by an average of 11.5%.

4. Proximus has some catching up to do. Run Forrest, run!

5. Investors are the most overweight commodities since May 2022.

However, copper fell as inventories rose to 11-month high.
The metal, used in power and construction, is down 12% since it hit a record high of $14,527.5 on January 29 on a wave of speculative buying, encouraged by expectations of strong demand.

On the supply side, mining giant BHP Group flagged an $18 billion multi-year investment plan to develop copper, gold, and silver mining projects in Argentina.

Chilean miner Antofagasta said its increased capital spending would boost production in the medium term.

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