WATCH: Stock picks — Remgro and Barclays Africa

Independent analyst Frans de Klerk chose Remgro as his stock pick of the day, while Graeme Korner from Korner Perspective chose Barclays Africa.

De Klerk said he had chosen Remgro for the “relief bounce” and “if you look at the charts, you will see a support level at R200. It’s a beautiful company with wonderful management,” he said.

Korner said South African stocks were being heavily marked down.

“Barclays lost one or two key staff and this is strategically important.… The separation from Barclays is not all plain sailing.”

He said although he was anxious about SA Inc, Barclays was trading on a forward multiple of eight and had a dividend yield of more than six, so “Barclays offers a high margin of safety”, he said.