Stocks to watch comprises gainers and losers from the previous week, companies in the news, as well as those that released results after trading hours.
UBA Plc and Access Bank Plc
UBA and Access Bank top our list of stocks to watch, by virtue of the impending release of their H1 2018 results.
The two banks are the only ones among their tier one peers yet to release theirs. FBN Holdings was the first tier one bank to do so, followed by Zenith Bank and Guaranty Trust Bank. The banks also have a tradition of paying interim dividends, a key factor for most investors.
PZ Cussons Nigeria Plc
PZ Cussons is next on our watchlist. The company had last week sent a notice to the Nigerian Stock Exchange (NSE) informing it of the need for more time to prepare its full-year results for the period ended May 2018.
The firm, however, promised to do so within the stipulated statutory deadline. This is an indication that it would release the result sometime within August. In the notice, the company also hinted at a dividend payment.
Skye Bank Plc
Skye Bank earns a spot on our watchlist this week by virtue of the impending release of a backlog of results dating back to 2016.
A few weeks ago, the bank had sent a notice to the NSE, informing it of a board meeting scheduled for August 9, 2018. Part of the agenda was the consideration of its second quarter 2018 results.
A closed period commenced on the 27th of July, 2018 and will be in force till 24 hours after the filing of its results. A closed period means that insiders and those with access to sensitive information are barred from trading.
Neimeth International Pharmaceuticals Plc
Neimeth is on this week’s watchlist by virtue of being last week’s top gainer, appreciating by 33%. The stock could witness significant volume this week, either from investors cashing out their gains or those positioning for further upside.
Unity Bank Plc
Unity Bank makes our watchlist by virtue of what now amounts to a delay in the submission of its full-year 2017, Q1 and now Q2 2018 results. The bank had, in a notice submitted to the NSE in May this year, indicated that its FY 2017 results were currently under review.
RAK Unity Petroleum Plc
RAK Unity Petroleum will be holding its Annual General Meeting (AGM) on the 16th of August, 2018. AGMs are a key source of information regarding a company’s plans going forward.
ABC Transport Plc
ABC Transport makes our watchlist by virtue of its Annual General Meeting holding this week on the 17th of August, 2018.
Secure Electronic Technology Plc
Secure Electronic Technology rounds up the stocks on our watchlist for the week, by virtue of being last week’s biggest loser. The stock closed at N0.29 during the week, down 19.44%. It could slide further within the week due to its poor results.