In a disappointing trading day for investors on Thursday, the JSE all share failed to capitalise on Wednesday’s upbeat close as market sentiment remained cautious. The Constitutional Court’s rebuke of speaker Baleka Mbete, who said she does not have the authority to allow a secret no-confidence vote in Parliament, failed to lift sentiment on a slightly weaker rand. Analysts said the past three years of almost no growth on the all share had shifted decisively to a bearish mood in the prevailing recessionary conditions. "Investor confidence needs to return to the market with comments about tinkering with the Reserve Bank’s independence not helpful at all," said BP Bernstein Stockbrokers portfolio manager Vasili Girasis. The all share closed 0.64% lower at 51,072.90 points and the blue-chip top 40 shed 0.59%. Food and drug retailers dropped 1.58, general retailers 0.94%, financials 0.75%, industrials 0.65%, resources 0.51%, property 0.47%, and banks 0.32%. The gold index rose 2.75% and...
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