WATCH: Stock pick — Global Bank of Canada

Karl Gevers from Benguela Global Fund Managers chose Global Bank of Canada as his stock pick of the day and independent analyst Chris Gilmour had no pick.

Gevers said: “I’ll go for an international stock, venture into the banking space and pick Royal Bank of Canada, it’s, as the name says, a Canadian bank with international operations and I think just as a business it’s quite a solid bank, their return on equity is at around 15% and on a forward PE [price-earnings ratio] of only 12 times and I also think their valuations are attractive.”