The JSE was flat on Tuesday at midday as the local market remained in the dark as to what the fate of the finance ministry would be. Banks and financials were under pressure along with a weaker rand, on speculation that a possible Cabinet reshuffle could result in Finance Minister Pravin Gordhan and his deputy, Mcebisi Jonas, removed from their positions. Business Day reported on Wednesday that it had "reliably learnt" that Gordhan and Jonas‚ were on their way out of the Cabinet. Rand Merchant Bank analyst John Cairns said with more and more sources confirming the meetings around the removal of Gordhan and his deputy, for the President not to react was simply a reflection of caution or respect for struggle stalwart Ahmed Kathrada’s funeral. Momentum SP Reid analysts said they expected that the JSE would enjoy additional upside on Wednesday as a combination of positive sentiment from Wall Street’s overnight performance, a marginally upbeat tone in Asia and a slightly weaker rand crea...
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