October equity round-up
The S&P Global 1200 index was up 3% in October as equity markets generally recorded robust performance. Basic Materials also performed, as did the Global X Lithium & Battery Tech ETF and Solactive Battery Value-Chain index, up 2% and 6% respectively. It wasn’t a great month for battery materials equities, with profit-taking in nickel and cobalt (with our baskets down 10% and 6% respectively). Our Downstream equity basket was the real winner, up 15% with our Hard Rock Lithium basket also benefiting from a short-squeeze in the Western Australian names.