WATCH: Stock picks — Assore and Macerich

Joseph Busha from JM Busha Investments chose Assore as his stock pick of the day and Drikus Combrinck from Capicraft chose Macerich.

Busha said: “I think if you look in terms of what has happened in the past two weeks, iron price up about 10% on Friday 3%, so the price has been depressed. They are down 23% for the year, today obviously a little bit of response and 7% up, so I think the earnings remain kind of high compared to the price and they have to converge at some stage.”

Combrinck said: “It is listed in New York and it’s one of the bigger mall Reits [Real estate investment trusts] in the US. It’s yielding almost 10% at the moment, so those type of companies have been decimated, including the high-quality Simon Property Group.”