Retail investors used September's slide in iron ore prices to load up on Glencore, propelling the miner past Nvidia and SpaceX to become interactive investor's most-bought stock.
Glencore (LSE: GLEN) was the most-bought stock on interactive investor's platform in September, jumping from fifth place the previous month as retail investors used a share price pullback to add to positions, according to data released by the broker.
The miner leapfrogged perennial retail favourites Nvidia and SpaceX after its shares came under pressure from softer Chinese steel demand and falling iron ore prices, conditions that interactive investor said prompted buyers to treat the weakness as a buying opportunity rather than a reason to sell.
Glencore was not alone in attracting fresh retail money. Financial stocks featured heavily in September's top ten, with Legal & General, Barclays and Lloyds all drawing buyers despite ongoing volatility in bond markets, suggesting investors were prepared to look past macro jitters to chase value in banks and insurers.
Property investment trusts also made a notable appearance, with Schroder Real Estate Investment Trust and Tritax Big Box entering the platform's top ten for the first time. Interactive investor said the sector, which has been out of favour since interest rates began rising in 2022, is increasingly being viewed by some investors both as a potential turning point and as an indirect way to play the continued build-out of AI infrastructure. Scottish Mortgage, meanwhile, reclaimed its position as the most-bought investment trust.
Not all the flows pointed towards risk appetite, however. Money market funds remained popular as cautious investors parked cash in low-volatility holdings, while bitcoin-proxy Strategy returned to the most-bought list after rallying more than 22% as the cryptocurrency pushed above $85,000. Whether Glencore can hold onto its new-found popularity will likely hinge on the trajectory of Chinese steel demand and iron ore pricing in the months ahead.
This report is based on Glencore’s announcement and coverage by UK Investor Magazine. Company announcements can be tracked via London Stock Exchange RNS and Investegate, and the full results calendar is worth watching for the next update.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: Dominik Vanyi on Unsplash.
Small Cap News covers London’s junior market – AIM, small-cap and growth companies – with concise, sourced reporting on the results, deals and regulatory news that move share prices. We track the stories private investors actually need, from contract wins and drilling updates to fundraises and half-year figures, straight from the market’s own announcements.