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 		[Investec Wealth & Investment]

 		 
 		 

 		 
 		Daily View

 		 
 		3 May 2024

 		 

 		[Monthly View]

 		 

 		 

 		Apple jumps 7% in afterhours trading; Hong Kong extends winning
streak; JSE ends flat

 	* Hong Kong once again led advances in Asia this morning, with
technology counters to the fore following events in New York
overnight.
 	* Technology shares led Wall Street higher last night, recovering
some of the ground lost over the previous two sessions. The Nasdaq
rose 1.5%, while the S&P 500 and Dow both rose 0.9%.
 	* Apple shares rose sharply (+7%) in afterhours trading after it
announced a decline revenues that was nevertheless less severe than
markets had forecast. It also announced share buybacks worth US$110bn
and an increase in its dividend.
 	* Hong Kong was up 1.5% this morning, while the Taiwanese
market rose as well, led by chipmaker TSMC. 
 	* Most other markets in the region were lower however, with Tokyo
and Seoul both down 0.1% and China's CSI 300 off half a percent.
Sydney was up 0.6% however. 
 	* Markets will be keeping an eye on the April nonfarms payroll
report in the US, due out at 14h30 South African time this afternoon.
 	* The market is expecting a rise of 240,000 jobs, from March's
303,000.
 	* After opening higher, the JSE edged lower (-0.04%) by the close
yesterday, as a 1.5% decline in resources cancelled out a 0.8% rise in
industrials. Financials were flat.
 	* Notable movers included Naspers (+2.6%), Exxaro (+2.3%), MTN
(+2.2%) and Investec plc (+2%). Declines were recorded by Sasol (-4%),
AB Inbev (-3.5%), Sibanye (-3.1%) and Anglo Platinum (-3.1%).
 	* Outside the top 40, Life Healthcare fell 6.7% after its trading
update disappointed the market.
 	* The rand was little changed this morning, trading at R18.54 to the
US dollar.

 		 

 		 

 		 

 		 

 		 

 		 

 		The latest from Investec Focus

 	* South Africa’s new "two pot" retirement system is due to come
into effect on 1 September. Investec's Tax and Fiduciary team
unpacks WHAT THIS MEANS FOR YOUR RETIREMENT SAVINGS
[https://links.wcacomms.investec.co.za/els/v2/RZk9hbej~qcV/R3RhSzd5MlBWMTlPNXVCbnBFRWdPci9rMFlSNERaZFVYY1pnRmgxRmhPK1U0V042T24zU2lwK3NzS2k1QVpnN1Q0UVptUTNZN0tOY2N0cklPUWlhNW9jV1ZCN3NDdjRxL21rTnRuSDQ4UWc9S0/cXVCNXJObUgyMVpya21KeEwwVWh2UXNpZDlGQThhQ2kS1],
highlighting how contributions will be allocated and the rules for
accessing funds. 

 		 

 		 

 		 

 		 

 		 

 		 

 		Company results and updates

 	* Mondi plc says it recorded earnings before interest, tax,
depreciation and amortisation of EUR214m in the March quarter, a
decline of 17.7% from the December quarter.  

 		 

 		 

 		 

 		 

 		 

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 		[Markets]

 		 

 		Markets at a glance

 		• KEY INDICATORS
 		• ECONOMIC CALENDAR

 		• INDICES
 		• COMPANY CALENDAR

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