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																		<td style="font-family: 'Times New Roman', serif; font-size: 40px; line-height:44px; color:#FFFFFF; text-align: left;letter-spacing:-0.25px;">Daily View</td>
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																		<td class="row20" style="border-left:2px solid #59606d;">&nbsp;</td>
																		<td style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; line-height: 24px; color:#FFFFFF;padding-top:13px;">2 May 2024</td>
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															<td align="left" valign="top" width="265"><span id="hero"><img align="left" alt="Monthly View" border="0" class="image359"  height="220" id="houdinihero"   src='https://contentz.mkt9504.com/ra/2024/26462/05/28923781/Daily-view-header2.png' style="display: block; max-width: 359px;" title="Monthly View" width="265"  /></span></td>
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															<td align="left" style="font-family: 'Times New Roman', serif; font-size: 32px; line-height:32px; color:#303849; text-align: left;letter-spacing:-0.25px;" valign="top"><span style="color: rgb(48, 56, 73); font-family: &quot;Times New Roman&quot;, serif; font-size: 30px; letter-spacing: -0.25px; background-color: rgb(255, 255, 255);">US equities extends declines on Powell remarks; Asian markets mixed; precious metals shares weigh on JSE</span></td>
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															<ul style="color: rgb(48, 56, 73); font-family: Arial, Helvetica, sans-serif; font-size: 14px; background-color: rgb(255, 255, 255);">
																<li>Markets were mixed this morning and overnight in response to Fed chief Jerome Powell&#39;s comments last night that reinforced the higher-for-longer narrative.</li>
																<li>Speaking after the Federal Open Markets Committee opted to keep rates unchanged, Powell said there had been a &quot;lack of progress&quot; in getting inflation down to the target number of 2%, adding that he was unsure about how long it would take to get to the target.</li>
																<li>The S&amp;P 500 fell 0.3% yesterday, extending Tuesday&#39;s decline of 1.6%, while the Nasdaq was also off 0.3%, following a 2% decline on Tuesday.</li>
																<li>However the 10-year Treasury yield did pull back, to 4.63% from 4.68% previously.</li>
																<li>Asia-Pacific markets were mixed this morning. The Hang Seng in Hong Kong advanced 2.3%, but&nbsp;Tokyo&#39;s Nikkei was down 0.1%.</li>
																<li>Seoul was down 0.3% and Sydney added 0.2%. Mainland Chinese markets remain closed for the labour day holidays.</li>
																<li>The Japanese yen was trading at Y156 to the US dollar as markets awaited news on possible intervention in the market.</li>
																<li>The mining sector, and in particular the volatile gold and platinum shares, were in focus on the JSE on Tuesday ahead of the Fed meeting yesterday, as sticky wage inflation numbers in the US weighed on sentiment.</li>
																<li>The JSE fell half a percent, but resources tumbled 4.3% as Gold Fields (-7.5%), Sibanye (-6.2%), Anglogold Ashanti (-6.1%), Implats (-5.5%) and Harmony (-4.2%) all fell sharply.</li>
																<li>Spot gold fell 1.7% on Tuesday to under US$2300/oz while platinum was 1.5% off at US$945/oz.</li>
																<li>Gains in financials (+1%) and industrials (+0.4%) prevented a bigger overall decline in the market.</li>
																<li>Many of the big upward moves were outside the top 40. Oceana (+4.5%), Spar (+4.3%), Tiger Brands (+3.3%), Wilson-Bayly (+2.9%), Mr Price (+2.9%) and Discovery (+2.6%) were among the big upward moves on the day.</li>
																<li>The rand continued to firm this morning, trading at R18.55 to the US dollar from a previous R18.60.</li>
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																		<td align="left" style="font-family: &quot;Times New Roman&quot;, serif; font-size: 24px; color: rgb(48, 56, 73); line-height: 24px;" valign="top">The latest from Investec Focus</td>
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																			<li>South Africa&rsquo;s ailing healthcare system has significant implications for the population and the economy. What needs to be done to change the course of healthcare?&nbsp;In the latest episode of the&nbsp;<a href="https://links.wcacomms.investec.co.za/els/v2/dmWrHvx3NAhR/R0RyRFRRNjEwbyt5dnN6UVA5UzJNaVhxNkNJNHZXM3Z5ODlFZnlqYktMNXcxK2FtWGtLcFVHamxtL04vK1dYRVZMRzhkUXZTcUkzTE1OaitjeWZMSWhkdmhCQW9SUUNsUERQYnZnSU5LWWM9S0/c3gwS0NRd3pCekcyTEdnTmVsY1JLN2NHZ3BNVXBSRnES1" name="No ordinary Wednesday" style="background-size: 16px; background-color: rgb(255, 255, 255); font-family: Arial, sans-serif; font-size: 13.3333px; color: rgb(48, 56, 73);" target="_blank" ><span style="font-size: 14px;"><strong><span style="color: rgb(174, 100, 37);"><u>No Ordinary Wednesday podcast</u></span></strong></span></a>, health activist Dr Aslam Dasoo and Investec Healthcare Equity Analyst Letlotlo Lenake discuss the NHI and the future of healthcare in South Africa.&nbsp;<span style="font-family: Arial, sans-serif; background-color: rgb(255, 255, 255); font-size: 14px;"></span></li>
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																			<li style="text-align: left;"><span style="font-family: arial, helvetica, sans-serif;">Life Healthcare says it expects its normalised EPS for the six months to March to rise by between 5.4% and 10.3%. Results are due out on 22 May.</span></li>
																			<li style="text-align: left;"><span style="font-family: arial, helvetica, sans-serif;">Impala Platinum reported a 16% increase in PGM production for the nine months to March, to 2.73 million ounces. In the March quarter, 827,000oz were produced, an increase of 13%.&nbsp;&nbsp;</span></li>
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																								<th style="line-height: 24px; font-family: Arial, Helvetica, sans-serif; text-align: left; font-weight: normal;">&bull;&nbsp;Key Indicators</th>
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																					<td align="left" style="font-size: 16px; line-height: 24px; font-weight: bold; text-decoration-line: underline; padding-top: 15px;" valign="top"><a href="https://links.wcacomms.investec.co.za/els/v2/Zz0XCj3YwPTR/R0RyRFRRNjEwbyt5dnN6UVA5UzJNaVhxNkNJNHZXM3Z5ODlFZnlqYktMNXcxK2FtWGtLcFVHamxtL04vK1dYRVZMRzhkUXZTcUkzTE1OaitjeWZMSWhkdmhCQW9SUUNsUERQYnZnSU5LWWM9S0/c3gwS0NRd3pCekcyTEdnTmVsY1JLN2NHZ3BNVXBSRnES1" name="Bookmark" style="background-size: 16px; color: rgb(48, 56, 73);" ><span style="color: rgb(174, 100, 37); font-family: Arial, Helvetica, sans-serif;">Read more</span></a></td>
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												<td align="left" colspan="3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10px;line-height:16px; color:#62615d;" valign="top"><strong style="color: rgb(98, 97, 93); font-family: Arial, Helvetica, sans-serif; font-size: 10px; text-align: justify;">Disclaimer:</strong><span style="color: rgb(98, 97, 93); font-family: Arial, Helvetica, sans-serif; font-size: 10px; text-align: justify;">&nbsp;Although information has been obtained from sources believed to be reliable, Investec Wealth &amp; Investment International (Pty) Ltd or its affiliates and/or subsidiaries (collectively &ldquo;W&amp;I&rdquo;) does not warrant its completeness or accuracy. Opinions and estimates represent W&amp;I view at the time of going to print and are subject to change without notice. Investments in general and, derivatives, in particular, involve numerous risks, including, among others, market risk, counterparty default risk and liquidity risk. The information contained herein is for information purposes only and readers should not rely on such information as advice in relation to a specific issue without taking financial, banking, investment or other professional advice. &nbsp;W&amp;I and/or its employees may hold a position in any securities or financial instruments mentioned herein. The information contained in this document does not constitute an offer or solicitation of investment, financial or banking services by W&amp;I . W&amp;I accepts no liability for any loss or damage of whatsoever nature including, but not limited to, loss of profits, goodwill or any type of financial or other pecuniary or direct or special indirect or consequential loss howsoever arising whether in negligence or for breach of contract or other duty as a result of use of the or reliance on the information contained in this document, whether authorised or not. &nbsp;W&amp;I does not make representation that the information provided is appropriate for use in all jurisdictions or by all investors or other potential clients who are therefore responsible for compliance with their applicable local laws and regulations. This document may not be reproduced in whole or in part or copies circulated without the prior written consent of &nbsp;W&amp;I.</span></td>
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