Bull markets – Periods in which financial markets experience sustained increases in prices, typically driven by investor confidence and strong economic and/or intrinsic fundamentals.
Defensive assets – Investments that tend to retain value or perform well during economic downturns, offering greater stability than less defensive investments. Examples include government bonds or utility shares.
Net equity supply – The total amount of new shares issued by companies minus shares bought back, reflecting the net change in the availability of equity in the market.
Net financing surplus – The excess of funds available to an entity after accounting for all sources of income and expenditure, indicating a positive financial position.
Price/earnings ratios – A valuation metric calculated by dividing a company’s current share price by its earnings per share, used to assess whether a stock is over- or undervalued on a relative basis.
Return on capital employed (ROCE) – A profitability ratio measuring how efficiently a company generates profits from its total capital base, calculated as operating profit divided by total assets minus current liabilities.
Share to cash value – The amount of cash a company has, divided by the number of its shares. This metric is often used to assess liquidity, or the ease with which shares can be sold for cash.
