Market overview
The FTSE/JSE All Share closed last week at 79 530.63, increasing by 1.41%. The consumer discretionary and technology sectors were the biggest contributors, increasing by 3.75% and 3.68% respectively during the week. The telecommunication and health care sectors were the biggest detractors, decreasing by 5.39% and 0.39% during the same period.
Looking at the MSCI indices, developed markets increased by 1.61% during the previous week while emerging markets increased by 2.71% over the same period.
US inflation edges lower
The annual inflation rate in the United States fell to 3.4% in April from 3.5% in March, in line with market expectations. The CPI increased by 0.3% over the previous month, falling short of the previous two months’ average of 0.4% and missing forecasts of 0.4%. Meanwhile, core inflation fell to 3.6% annually, the lowest reading since April 2021, from 3.8% in March and February. The monthly rate also fell to 0.3% from 0.4%, in line with expectations.
Chinese production grows
China’s annual industrial production expanded by 6.7% in April, exceeding market expectations of 5.5%. Activities in manufacturing, utilities, and mining all accelerated amid continued support measures from the government.
Thanks to PPS Investments for the weekly Market Overview.
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