WATCH: Stock picks — oil and BAT
Gary Booysen from RandSwiss and Ricus Reeders from PSG Wealth talk to Business Day TV
Gary Booysen from RandSwiss chose oil as his stock pick of the day and Ricus Reeders from PSG Wealth chose British American Tobacco (BAT).
Booysen said: “The reason the oil price is getting so crunched at the moment is [because] Saudi Arabia and Russia are having a spat and their supply is still not coming on stream aggressively but at the same time they are running out of storage.”
Reeders said: British American Tobacco has a great balance sheet and they are going to survive this crisis. Since this crisis started, everything just about flew into pieces, except for tobacco.”
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