Jean Pierre Verster from Fairtree Capital chose Fiat Chrysler Automobiles as his stock pick of the day.

Verster said: "Going for a global offshore share as usual. Fiat Chrysler Automobiles is listed in the US and in Italy. The company's long standing CEO passed away unfortunately last year but the new management team that has taken over have shown that they are well in control and still making good strategic decisions. The company has a good cost base relative to the volume that Fiat and Chrysler are pushing through in terms of their production facilities and they get positive operating leverage from that. Global car manufacturers have sold down in the last year or two mainly because of diesel and a slow down in vehicle sales in China. Fiat also has some of those issues but less so than a lot of other manufacturers. They also unbundled Ferrari two or three years ago - that did very well and then in terms of emissions they did a deal with Tesla to share the emission credits in Europe so that they will pay Tesla a certain amount and use the credit because Tesla vehicles don't have no emissions.”