Stock Watch - Stock picks — Anglo Gold and Naspers
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Wayne McCurrie from FNB Wealth chose Anglo Gold as his stock pick of the day and Nesan Nair from Sasfin Securities chose Naspers.
McCurrie said: "I'm going for Anglo Gold, I think it's the first time I've ever punted a gold share, I know the share prices are still high relative to the underlying gold price. They have come off quite significantly since the peak in the middle of last year but I think shorter term and I don't think dramatically but I think there's rising inflation and higher interest rates coming through the system, and maybe even a little bit of stock market volatility. In that scenario it's not a long-term plan but I think in the next month or two the gold shares could actually do quite well."
Nair said: "I'm going to go for Naspers, just on the price action in the last week, I mean you cannot ignore it. Every day you switch on that screen and it's up a percent or two or four. Something is going on here it's not just the share buybacks, there certainly seems to be a lot of buyers out there so that's one I think we should look at in the short term."
McCurrie said: "I'm going for Anglo Gold, I think it's the first time I've ever punted a gold share, I know the share prices are still high relative to the underlying gold price. They have come off quite significantly since the peak in the middle of last year but I think shorter term and I don't think dramatically but I think there's rising inflation and higher interest rates coming through the system, and maybe even a little bit of stock market volatility. In that scenario it's not a long-term plan but I think in the next month or two the gold shares could actually do quite well."
Nair said: "I'm going to go for Naspers, just on the price action in the last week, I mean you cannot ignore it. Every day you switch on that screen and it's up a percent or two or four. Something is going on here it's not just the share buybacks, there certainly seems to be a lot of buyers out there so that's one I think we should look at in the short term."
