Independent analyst Chris Gilmour chose Afrimat as his stock pick of the day and David Shapiro from Sasfin Securities chose to look at bonds.
Gilmour said: “Afrimat I think has got all the qualities inherent, it has a nice rand-hedge side of things, they know precisely what they’re doing. It’s not really a construction stock at all; it’s more a mid-tier miner stock and I think there’s a lot going for it.” Shapiro said: “I’m buying a lot of trackers which gives me exposure offshore where you’re looking for yield. You’ve got the long bond at 11.5% and if inflation is truly 2%, well, even if you’re paying full tax, you can make some real income there.”
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