Picture SUNDAY TIMES/MOEKETSI MOTICOE
Picture SUNDAY TIMES/MOEKETSI MOTICOE

Which JSE shares will get "Viceroyed" on Friday?

It has been a wild week for the local bourse, with Aspen rebounding 11% on Thursday after crashing as much as 10% on Tuesday on rumours that the pharmaceutical company was the "South African name" mysterious US short-seller Viceroy Research is focusing on.

Aspen’s reprieve came at the expense of the JSE’s real estate investments trusts (Reits), which suffered panic selling on Thursday morning.

The defence adopted by Nepi Rockcastle, Resilient and Fortress in attempting to calm the market by issuing voluntary trading updates appeared to have helped.

Nepi Rockcastle recovered to close 5.15% lower at R178.80 from its 20% plunge earlier by issuing a statement saying it expected to report on February 20 that its distributable earnings for 2017 grew about 17%.

Fortress reduced the drop in its B units to 2% from 24% by saying it expected to report on February 8 that its interim dividend grew about 15%. The drop in its A unit was reduced to 0.4% from 15% by saying its interim dividend was expected to grow 5%.

Resilient mitigated its share price fall to 4.4% from 22% by saying it expected to report on February 8 its dividend for the year to end-December would grow as much as 13.5%.

The JSE may take its cue from the US on Friday. The S&P 500 index rebounded 0.7% to a fresh record of 2,768 points on Thursday from Wednesday’s 0.1% stumble.

The Nasdaq composite index rose 0.8% to clock 7,200 points for the first time.

The rand was at R12.38 to the dollar, R14.93 to the euro and R16.78 to the pound at 7am.