The equities market closed down 1.68% last week, continuing the bearish pattern witnessed in the last two weeks. FCMB Group leads our list of stocks to watch out for this trading week.
FCMB Group, on Thursday last week, released its FY 2017 results. While the holding company maintained its N0.10 dividend payout last year, the results showed a sharp decline across board.
Investors may decide to exit the stock to renter at a lower price. Year to date, the stock is up 58.7%.
AIICO Insurance Plc
AIICO Insurance, on Friday, released its financial statements for the year ended December 2017. While the company maintained its dividend payout of N0.05, it showed a marked decline in profit. The stock closed up 4.62% on Friday and is up 30.77% year to date.
May & Baker Nigeria Plc
May and Baker was one of the top 3 weekly gainers last week with a 14.29% gain. The pharmaceutical giant released its 2017 financial statements last week and declared a N0.20 dividend. The stock could witness significant traction within the week as investors either take position or exit. Year to date, the stock is up 23%.
Fidelity Bank Plc
Fidelity Bankis currently trading 34% below its year high of N3.99. The stock could witness a rally if its results were to be released within the weekas the bank’s9 months 2017 results showed a marked improvement from the prior year.
The stock is up 5.69% year to date having shed earlier gains made during the year.
African Alliance Insurance Plc
African Alliance gained 9.09% last week. While the company is a penny stock, it witnessed several large volumes last week.
Year to date, the stock is down 52%.