Foster: Amongst the largest companies we like Goldcorp the best because they have a growth profile. They're developing a huge mine in Mexico called Penasquito that is coming in on budget and on time. It looks very good to us and next year they'll be bringing Pueblo Viejo online, a joint venture they have with Barrick Gold ( ABX) in the Dominican Republic. And beyond that there are a number of other projects to fill their pipelines, so we like the growth profile on Goldcorp and they're managing it very well. The stock is up just 6% year to date, so just how undervalued do you think this stock really is? Foster: In my view it's not that undervalued but because of their solid growth profile. I think they can trade at a premium to their peers because of their management and just the dynamics of the company. So I wouldn't call it a cheap stock but the outperformance would be in the high multiples the company can command.
While causing upset among politicians and some business leaders, President Donald Trump's withdrawal of the U.S. from the Paris Agreement helped boost stock prices across the chemicals and automotive sectors.