The JSE closed weaker on Friday, with losses led by property stocks and general retailers, as the market euphoria from Thursday dimmed slightly ahead of President Cyril Ramaphosa’s state of the nation address (sona) in the evening.The all share experienced its biggest intra-day rally in more than three years on Thursday, following Ramaphosa’s election as head of state.Volumes on Friday reached an extremely high R61bn, from R36bn on Thursday, with a great deal of this passing through the property sector, where shares in the Resilient stable were sold off heavily for a third straight session.Resilient issued a statement on the day, saying it had initiated an independent review into the cross-shareholding structure of the group, led by former auditor-general Shauket Fakie. Resilient lost 10% on the day, and has now relinquished 49% in 2018.A slight drop in the local currency helped rand hedges, notably Anheuser-Busch InBev, while Naspers was weaker in choppy trade.Platinum shares recei...
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