| The JSE overcame early weakness to close higher yesterday - but still lagging gains in other markets as tests from a second experimental vaccine for Covid-19 showed it was almost 95% effective. US biotech firm Moderna's results followed those of Pfizer and German firm BioNTech earlier this month, which suggested their vaccine is 90% effective at safeguarding from the pandemic. Sasol's shares helped support the local market as the price of oil rose and the energy and chemicals giant announced that its Lake Charles Chemicals Project was finally fully operational. On the downside, Shoprite fell sharply after a first-quarter update showed lethargic sales growth due to the ban on alcohol consumption for a large part of the lockdown. Vodacom also faltered after releasing interim results. Also today, Astral has paid a final dividend after ending the year on a positive position and Life Healthcare may have found a buyer for its Scanmed business in Poland. And Naspers and Prosus released trading statements after the close of trade so watch for the market's reaction to those this morning. Finally, today we introduce you to our new partner, The Finance Ghost, who aims to demystify the markets. In his first podcast, he tackles the rand, one of the beneficiaries of the risk-on sentiment yesterday. If you want to know why, please listen to Magic Markets: Rollin' with the Rand. He's entertaining and incredibly smart. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
The latest from Ingham Analytics For investors interested in Chinese alternatives to US tech stocks (with shares that can be bought on New York and Hong Kong exchanges) then check out Ingham Analytics growing coverage. They introduced a China Tech thematic last week with a note entitled "Anti-Trusted". For those trying to make sense of the roiling markets then top trader Andrew Kinsey guides the way in "Did your seatbelts go to waste?" which was issued yesterday. | 