One of the world’s largest social investing networks, eToro recently expanded its offering and introduced the Australian stocks portfolio to facilitate its users. According to the details shared by eToro, the AussieEconomy portfolio will give the company’s clients exposure to some of the best-performing stocks in the Australian financial markets.
Josh Gilbert, a Market Analyst at eToro, said that a large number of investors are attracted to Australian stocks. According to Gilbert, some of the Aussie firms are reporting record earnings despite challenging global conditions.
“Its unparalleled location, raw resources, and favorable trade relationships have made Australia a very attractive investment destination. Companies ‘down under’ are leaders in energy, commodities, and agribusiness, all sectors being watched closely by global and local investors as they emerge strongly from the current macroeconomic events,” Gilbert said.
In August 2022, eToro announced the extension of its partnership with AS Monaco. During the same month, the social investing network also announced the acquisition of Gatsby in an effort to expand its global presence.
Australian Region
With a GDP of over $1.3 trillion, Australia is one of the biggest economies in the world. The region is home to some of the most valuable international companies.
“It’s easy to see why investors are attracted to Australian stocks. A number of Australian companies are demonstrating strong growth, for example, BHP recently delivered record earnings and a record dividend at a time when investors are crying out for income-paying stocks and robust growth. The ASX offers great diversification for investors wanting to look outside the technology-heavy US indices,” Gilbert added in the press release.
In the past 12 months, eToro has expanded its product offerings significantly to meet the growing demand for innovative trading products. In April 2022, the company added four new tokens to its platform to facilitate crypto traders.
