Kestrel Investment Partners (KIP) is shifting positions away from export-orientated stocks after analysis shows global exports and production will decelerate as a result of trade wars and a drop in oil demand.
After carrying out analysis, the firm is predicting the monthly growth rate in global exports and production to decelerate from 0.03% at the end of July to -0.15% by December; its lowest level since Q3 2015. Kestrel's projections for production and global trade incorporate global industrial production, factory orders, durable goods, exports and imports. John Ricciardi, CEO of KIP and manager of the £89m Kestrel Global Portfolio, said: "China and other emerging markets have slowed this year meaning oil demand has dropped." He added oil exports had taken a hit in recent months follow...
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