Stock Watch - Stock picks — JSE and Inditex
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Karl Gevers from Benguela Global Fund Managers chose JSE Limited as his stock pick of the day and Jean Pierre Verster from Protea Capital Managers chose Inditex.
Gevers said: "I would probably buy JSE limited, the stock exchange. I think in terms of defensiveness it certainly has defensive characteristics and generally benefits from the increase in volatility.
Verster said: "I'm picking a stock listed in Spain called Inditex. South Africans would know them as the holding company for Zara and Zara home and last year was terrible for them as it was for all clothing retailers. They'll announce their full year profits in early March and I expect those profits to be down 60% but, near the end of last year we started to see the green shoots of people going back and buying some clothes again."
Gevers said: "I would probably buy JSE limited, the stock exchange. I think in terms of defensiveness it certainly has defensive characteristics and generally benefits from the increase in volatility.
Verster said: "I'm picking a stock listed in Spain called Inditex. South Africans would know them as the holding company for Zara and Zara home and last year was terrible for them as it was for all clothing retailers. They'll announce their full year profits in early March and I expect those profits to be down 60% but, near the end of last year we started to see the green shoots of people going back and buying some clothes again."