JSE opens weaker as property stocks retreat on rumoured Viceroy report
The JSE opened weaker on Thursday as property stocks were hammered for the second consecutive day on rumours that Viceroy Research was set to reveal damaging research on a number of property companies. A similar report on Steinhoff in December sent Steinhoff shares down 90% and led to the resignation of chairman Christo Wiese and CEO Markus Jooste after the release of financials were delayed. "Property stocks in the Resilient stable are under attack as they are perceived to be the next victim of Viceroy," analysts at Nedbank Corporate and Investment Bank said in an early morning note. These included Greenbay, last year’s best property performer, Nepi RockCastle and Fortress A and B shares, Nedbank said. On Thursday morning, there were no announcements yet on Sens by the affected companies regarding any Viceroy report. The property index closed 3.4% down on Wednesday, after starting the year at a record high. Earlier, pharmaceutical company Aspen came under pressure amid rumours that...
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