IG Markets: Midday market update, 13 April

The All-Share index is at a new all time high, up 0.40% after a rally in chinese markets served to buoy emerging market risk appetite.
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Industrials have lead the charge out of the gate, up over 0.91% in morning trade with Financials off 0.55%.
A number of local company shares have gone ex-div today including Group Five, RCl Foods, Wilson Hayly Homes, Bidvest Group, Barclays Africa, Mpact, Exxaro, Sanlam, Capitec and Advtech.
Our chart of the day today is on Naspers Ltd, which broke above R2000 per share to a new all time high of R2029 and 97 cents. The share has continued its relentless march upwards from the pullback we saw in October, having added 55% since then volume has been fairly strong with the 50day mocing average, seen here in Green, providing strong buying support for the share price.

On the commodities front Gold has only just dipped below 1200 and is currently at $1999.9/oz
Platinum at $1160.2/oz and Brent Crude trading up 2% at $59.13 per barrel.

Taking a look at currencies trade and the Rand is Trading at R12.17 to the Dollar, R17.78 to the British Pound and R12.85 to the Euro.

On the economic front China released its trade data this morning indicating that exports had a shock fall in March of 15% with imports pulling back their fastest since 2009. The markets rallied however on the expectations of further stimulus from Beijing.

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