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 		[Investec Wealth & Investment]

 		 
 		 

 		 
 		Daily View

 		 
 		30 April 2024

 		 

 		[Monthly View]

 		 

 		 

 		Asian markets mixed after Chinese PMI; Tesla's Chinese agreement
lifts Wall St; platinum shares up on JSE

 	* Asia-Pacific markets were mixed this morning as they digested the
latest manufacturing survey numbers in China, which showed activity
expanding in line with forecasts this month.
 	* China's official PMI manufacturing index for April came in at
50.4, an expansion and slightly higher than markets had been
expecting.
 	* Hong Kong's Hang Seng was flat and the CSI 300 index of leading
Chinese firms was down 0.3% at the time of writing.
 	* Tokyo's Nikkei was up 1.2% after trading resumed from yesterday's
holiday, while Seoul's Kospi was up 0.3%.
 	* The yen held onto its late gains from yesterday, after suspected
intervention following sharp weakness yesterday morning. It was last
trading at Y156 to the US dollar.
 	* All three major indices on Wall Street rose last night, with the
S&P 500 up 0.3% and both the Nasdaq and Dow up 0.4%.
 	* While shares in Meta and Alphabet were down, there was a 15%
jump in Tesla, after it announced it would be rolling out its driver
assistance service in China.
 	* The 10-year Treasury was little changed at 4.61%.
 	* US markets will be keeping an eye results due out today, including
Amazin, Coca-Cola and McDonald's, as well as tomorrow's Federal Open
Markets Committee, which will hopefully provide guidance on the
trajectory of rates this year.
 	* The JSE continued its rally yesterday, adding 1.4% as the rand
firmed further and resources (+2.7%), financials (+1.7%) and
industrials (+0.7%) all advanced.
 	* The volatile platinum shares once again stood out, led by Anglo
Platinum (+5.5%), Sibanye (+4.6%), Implats (+4.3%) and Northam
(+3.1%).
 	* Other big moves were seen in MTN (+5.3%), Anglogold Ashanti
(+4.4%), Discovery (+4.2%) and Anglo American (+3.2%).
 	* The rand firmed during the day, strengthening from R18.80 to the
US dollar to R18.63 by the close. It was trading at R18.68 this
morning.

 		 

 		 

 		 

 		 

 		 

 		 

 		The latest from Investec Focus

 	* In episode 5 of THE CURRENT PODCAST
[https://links.wcacomms.investec.co.za/els/v2/mkVrcwzx_GCe/bUVPeXE4VDhtcnlsQnVSRkxzNmM2bTdHT0hDTzB0cGhmU3lhZ0plTVNyUS9Da1IwdkRWdHpmRnByeVBKRUlPaFJKdVdSRU14ZnJ4MkNoaUxxcWVOODY3V1ZvSXh4cnY4RS91b2RXUjFTVUk9S0/TjZjL2x5dlJjU1FRYkdsc0ZhSUQrUnk3RkM3NmxEYTIS1],
Iman Rappetti and Investec's Callum Macpherson, Campbell Parry,
Melanie Janse van Vuuren and SAPIA's CEO Fani Tshifularo discuss the
numerous applications of fossil fuels and how quickly we can phase
them out, whilst sticking to a 'just energy transition'. 

 		 

 		 

 		 

 		 

 		 

 		 

 		Company results and updates

 	* Glencore reported increased production in the March quarter in
lead (+11%), nickel (+14%) and gold (+7%). Declines were recorded in
copper (-2%), cobalt (-37%), ferrochrome (-26%) and coal (-1%).
 	* WeBuyCars says it expects to report and increase in core headline
earnings of 24% to 29% for the six months to March. Results are due
out on 13 May.  

 		 

 		 

 		 

 		 

 		 

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 		Markets at a glance

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