WATCH: Stock pick — Diageo

Craig Pheiffer from Absa Stockbrokers and Portfolio Management chose Diageo as his stock pick of the day.

The global alcoholic beverages company produces Johnny Walker, Smirnoff, Tanqueray Gin and Guiness.

“They have quite a wide offering with very good cash flows and in the current environment it seems that heading towards a more defensive stock makes the most sense,” Pheiffer said.