The JSE retreated a little on Friday, amid signs of consolidation, after staging its biggest one-day rally in three years on Thursday."The best barometer for the country is the rand, which has shown a lot of strength, implying that investors are buying the South African story," said Nick Kunze, market analyst at Bridge Fund Managers.The rand was last at R11.63 to the dollar, just a few cents off its best level in three years.The all share gave up 0.41% to 59,288.70 points by lunchtime, as market participants lightened their bullish positions on some stocks.On Thursday, the benchmark index leapt nearly 4%, coinciding with a political transition in which Cyril Ramaphosa officially became the new head of state, replacing scandal-tainted Jacob Zuma.Ramaphosa will deliver the state of the nation address at 7pm on Friday, setting the scene for the delivery of the budget next week, which some regard as the biggest event upcoming risk event to the local economy.Net equity inflows since Dece...
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