The JSE’s early momentum had evaporated by lunchtime on Monday, signalling a degree of caution heading into the ANC’s national executive committee meeting, which is set to finalise President Jacob Zuma’s future as head of state. The rand was also somewhat stronger on the day, which had a deleterious effect on some of the big rand hedges. The all share was flat at 55,936.30 points at midday, lagging behind other world equity markets, which were substantially higher. Shares in Resilient and those within its stable came under pressure following the release of two negative research reports on the property group, accusing it of questionable deals that artificially boosted the share prices of related companies. Resilient slumped 8.68% to R98.63, Nepi Rockcastle 9.21% to R126.20 and Greenbay Properties 7.22% to R1.67. Miners, generally, managed to keep their heads above water, thanks to a small pick-up in commodity prices, which was the result of a slightly weaker dollar. Banks were patchy...
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