WATCH: Stock picks — Absa and FTSE 100 autocall
Nick Kunze from Sanlam Private Wealth and Gary Booysen from Rand Swiss talk to Business Day TV
Nick Kunze from Sanlam Private Wealth chose Absa as his stock pick of the day and Gary Booysen from Rand Swiss chose FTSE autocall.
Kunze said: “Traditionally, the banks have been under pressure for obvious reasons, we know the story ... a slowing economy, concerns over the fiscal issues, competitor pressures and so on. Stocks have come off quite a lot and out of the banking sector we tend to favour Absa.”
Booysen said: “It’s called a FTSE 100 autocall, it’s a five-year product and essentially the FTSE index is under pressure just because of Brexit. It’s a lot cheaper than the US at the moment but it’s got very good quality companies inside it.”
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