The Daily Update: 12 April

The latest updates from the JSE and NYSE over the past 24 hours.

South Africa

Zeder Investments Limited- Trading statement

• Zeder expects net asset value per share to be between R2.56 per share and R2.62 per share, representing a decrease of between 43.8% and 45.1%.

Anglo American PLC

• Anglo American has announced that the value of rough diamond sales for De Beers third sales cycle of 2023, amounted to $540 million.
• This is an increase of $43 million when compared to the last cycle.

Stor-Age Property REIT Limited

• Stor-Age has entered into a joint venture (JV) with Nuveen Real Estate to acquire a four-property portfolio in the UK.
• Nuveen will acquire 90% and Stor-Age 10% of the JV, respectively.
• The properties will be branded and managed by Storage King under its third-party management platform.
• The JV provides Stor-Age with the opportunity to partner with a global investment manager and expand its exposure to the self-storage market in the UK, achieving further scale and generating acquisition and ongoing property management fees.

The U.S.

Twitter

• Elon Musk said earlier today on a Twitter Spaces that Twitter currently has around 1500 employees down about 80% from when he took over the company.
• Elon also said he thinks Twitter could be cash flow positive this quarter.

Berkshire Hathaway

• Warren Buffett has said that Berkshire has more money invested in equity securities in Japan than any other country outside the United States.

Visa

• Visa has announced a partnership with PayPal, Venmo and others to create Visa+
• A new service that would let you send and receive money across different digital payment platforms.