WATCH: Stock picks — SA banks and Diageo

Wayne McCurrie from FNB Wealth & Investments chose SA banks as his stock pick of the day and David Shapiro from Sasfin Securities chose Diageo.

McCurrie said: “I’m going back to the good old favourites, they’ve come under a bit of pressure recently but are up again today. Go for the SA banks, the increase in earnings that they’re going to show this year is going to be astonishing, because they’re way over provided for bad debts and you’re going to see a very high growth in the dividend payouts as well. So go for an SA bank.”

Shapiro said: “I was looking for a British listed beer company you know, the equivalent of AB InBev or Heineken, but I couldn’t find it, so my proxy is Diageo. The only reason is I think that England are going to win the Euro [the UEFA European Football Championship], the Brits are going to drink themselves into a stupor.”

Source: businesslive.co.za