The JSE all share closed flat on Wednesday as platinum stocks, retailers and most banks supported the market, while global miners and rand hedges struggled to find direction in the stronger rand environment.The rand firmed to R11.8165 to the dollar from R11.9605 in intra-day trade, as the greenback lost ground ahead of US Federal Reserve chair Janet Yellen’s last policy meeting briefing.Banks, with the exception of Capitec, had a good day as the big four attracted buyers, while Capitec plummeted 12.59% to R800.60 following the Viceroy Research report on Tuesday. Although Capitec managed the initial negative publicity relatively better than Steinhoff had, it was under renewed selling pressure as analysts combed through the numbers in the now widely available Viceroy report.In its report, Viceroy accused Capitec of either fabricating new loans and collections, or refinancing up to R3bn a year by issuing new loans to defaulting clients. Impairments of R11bn may become necessary. Capite...
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