Daily Market Review

*Tuesday, 13 April 2021*

US equities were marginally lower on Monday as key participants took a wait and see approach ahead of key inflation data today and first-quarter earnings season that kick-off tomorrow with JP Morgan, Goldman Sachs and Wells Fargo reporting. Nuance communications jumped after Microsoft agreed to buy the speech-recognition firm for $16B. Alibaba continued where it left off in Hong Kong, gaining 9.3%, Ant group agreed to become a financial holding company overseen by the Chinese Central Bank. Nvidia gained 5.62%, the company said first-quarter earnings will exceed previous guidance. The 10-year US Treasury were weaker at 1.674%.

European equity markets were lower. Technology, travel/leisure, basic resources, industrial goods & services and retail were the worst performers. Autos & parts and utilities outperformed. *Bloomberg* reported England saw further easing of lockdown rules as nonessential retail and outdoor space in pubs and restaurants opened after almost 100 days.

*S&P500 -0.02%* *Dow -0.16%* *Nasdaq -0.36%* *FTSE100 -0.39%* *DAX -0.13%* *CAC -0.13%*.

Asian equities are trading firmer this morning as both the Nikkei and Hang-Seng gain more than 1%. Alibaba continuing the previous day’s gains in Hong Kong and the US, trading up by another 1.46% this morning. New Zealand card spend increased in March whilst business confidence improved for the 1st Quarter. Aussie business conditions jumped to a record high as firms express their confidence the strength will continue.

*Nikkei +1.09%* *Hang-Seng +1.02%* *Shanghai +0.02%* *ASX +0.07%*

The JSE All-Share index lost 1.19% led lower by the Resource index that closed lower by 2.09%. Precious metals (-2.85%) weighed on the broader market as Harmony, Anggold and Goldfields lost more than 3%. Financials bucked the trend supported by banks that gained 0.34%. Capitec to release results today, followed by Bell, EOH, Hulamin and PSG Konsult tomorrow. The 10-year government bond closed weaker at 9.34%.

*Notable Gainers/Losers*

PicknPay +3.17% Momentum +2.66% Capitec +1.73% Ninety1 +1.70% MTN +1.67% Shoprite +1.53% Exxaro +1.04% Nedbank +0.90%

Harmony -4.51% Hammerson -4.23% Goldfields -3.97% Anggold -3.95% Amplats -2.80% Implats -2.70% ARM -2.58%

*JSE All-Share -1.19%* *JSE Top 40 -1.28%* *Industrials -1.03%* *Resources -2.09%* *Financials +0.29%*

JSE All-Share 66’390

S&P500 4’128

USDZAR 14.57

EURZAR 17.33

GBPZAR 20.02

EURUSD 1.19

GBPUSD 1.37

GBPEUR 1.15

AUDZAR 11.08

NZDZAR 10.22

Brent Crude $63.72

Gold $1’734

Platinum $1’172

Palladium $2’667

Alan Heyman

Sources: Factset, Yahoo Finance, Trading Economics, BusinessDay Live, WSJ

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