Gary Booysen from Rand Swiss chose Equinix as his stock pick of the day and Ricus Reeders from PSG Wealth Sandton chose Shoprite.
Booysen said: “I’ve been watching Equinix for a long time and it just hasn’t given us an opportunity to get into it. It’s been robust, though we’ve had a little bit of a wobble on their latest results, we looked into it and the results are solid. Their revenue grows between 10% and 1 % in dollar terms every year.”
Reeders said: “I’m sticking with local and going for Shoprite. It is the first time in probably four-and-a-half years that I’m actually looking at the company. Talking about change in growth or income prospects and they’re getting out of Nigeria, they’re still a dominant player in Africa, they’re gaining market share in SA. If we have a resource rally or at least a buoyant resource market that remains, it is going to be good for Africa and the consumer. ”