Market Wrap - Stock Pick — Off shore
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Robert Towell from Sasfin Securities suggests to look off shore as the rand continues to gain.
I think at the moment in South Africa we are going to get a rate cut which will be good for the economy but it puts a bit of strain on the banks so I would continue to look overseas, we are starting to get good earnings that have started to come out from the first quarter and if those continue we should have a good run into December. So, I would be looking overseas at the moment and if the rand hits R13,50 to the dollar I will be taking money off shore.
I think at the moment in South Africa we are going to get a rate cut which will be good for the economy but it puts a bit of strain on the banks so I would continue to look overseas, we are starting to get good earnings that have started to come out from the first quarter and if those continue we should have a good run into December. So, I would be looking overseas at the moment and if the rand hits R13,50 to the dollar I will be taking money off shore.
