The JSE was firmer at midday on Thursday as a marginal recovery in Capitec supported the banking sector, while Resilient was under renewed pressure. Capitec regained just more than 4% in morning trade amid reports that the bank’s management was buying stock. Earlier, S&P Global Ratings dismissed a claim that Capitec was hiding massive bad loans. Capitec has lost 23% so far in 2018 following the release of Viceroy Research’s report earlier in the week. Resilient, and associated property shares in its stable, continued to be under pressure, despite not being named by Viceroy, as was previously rumoured. Unconfirmed reports were that US hedge funds continue to short Resilient shares. Asian markets ended the morning session mixed, with the Nikkei 225 up 1.68% and the Hang Seng down 0.75%. European markets were higher, despite a stronger euro, following solid purchasing managers index (PMI) data from Germany. The CAC 40 rose 0.55% and the DAX 30 0.47%. Global market focus is now expected...
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