The JSE was weaker at lunchtime on Friday, tracking generally negative sentiment in world markets. The all share was off 0.65% to 57,469.70 points at midday, as big industrial stocks, such Naspers, retreated after a volatile week in the local share market. Banking and insurance stocks were under pressure, suggesting caution heading into the ANC’s elective conference at the weekend, set to be a watershed event for SA. The Steinhoff drama took a twist on Thursday evening, with chairperson Christo Wiese resigning from the supervisory board amid the accounting scandal that has cost shareholders billions in lost market value.
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