SA’s benchmark index dropped 0.4% as of 2.49pm in Johannesburg on Monday, trimming its advance this year to 11%.
Here are some of UBS’s preferred South African stocks in the lead up to the election, detailed in an April 16 report co-authored by Pillay: Insurers: Discovery, Old Mutual and Sanlam. To benefit from the “lower-yield environment, improved consumer sentiment and strong market performance” Retail sector: Pick n Pay, Shoprite, Truworths, Mr Price, Clicks and TFG to benefit from improved consumer sentiment and growth prospects; sector has de-rated and is looking attractive relative to history. “Strong rand should help lower input inflation and support margins”
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