Stock Watch - Stock picks — Asos and MTN
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Jean Pierre Verster from Protea Capital Management chose Asos as his stock pick of the day and Meryl Pick from Old Mutual Investments chose MTN.
Pick said: "I'm going for MTN, a few months ago there was some negative news flow once again about Nigeria and I think that spooked the market about them needing to suspend or audit sim registrations. I think MTN was weak given what the oil price has done and therefore downed the consumption in Nigeria. I think that the fears around a big fine are perhaps overloaded.
Verster said: "My stock pick is listed in London and it's called Asos, it's an online apparel or fashion retailer and focuses on the youth market. They are mostly in the UK but are increasing their footprint to Europe and the rest of the world as well. During this week they made a bid to buy Topshop and it will be a very good deal if it is successful"
Pick said: "I'm going for MTN, a few months ago there was some negative news flow once again about Nigeria and I think that spooked the market about them needing to suspend or audit sim registrations. I think MTN was weak given what the oil price has done and therefore downed the consumption in Nigeria. I think that the fears around a big fine are perhaps overloaded.
Verster said: "My stock pick is listed in London and it's called Asos, it's an online apparel or fashion retailer and focuses on the youth market. They are mostly in the UK but are increasing their footprint to Europe and the rest of the world as well. During this week they made a bid to buy Topshop and it will be a very good deal if it is successful"
