Stocks to watch this week comprise stocks that were the top gainers and losers in the prior week, those with expected corporate actions or in the news. Stocks to watch is not a Buy/Sell or Hold list.
Here are the stocks Nairametrics will be keeping an eye on this week.
Universal Insurance Plc
Universal Insurance tops our stocks to watch list this week. The company will be holding a board meeting on the 30th of August, 2018. Among the items on agenda are the company’s Annual General Meeting and a discussion around NAICOM’s recapitalization announcement.
The policy could lead to several mergers and acquisitions in the industry, as well as capital raising exercises.
Newrest Airline Services Plc
Newrest Airline Services is on our watch list by virtue of being the best performing stock last week.
The stock gained 19.1 % last week and is trading 10.9% below its year high of N5.95. The stock could witness some correction in this week’s trading session.
Jaiz Bank Plc
Jaiz Bank was the worst performing stock last week, hence its taking a spot on our watch list last week.
The stock closed at N0.48, down 11.11% and is trading at a year low. It could witness further downward movements in this trading week.
UBA has had a consistent spot on our watch list in the last few weeks, due to the bank’s impending release of its H1 2018 results. From precedence, the bank typically releases its H1 results in the last week of August.
The bank also pays interim dividends, which are of key importance to retail investors.
Access Bank Plc
Access Bank has also been on our watch list in the last few weeks, as it has not released its H1 2018 results. The bank also has a tradition of paying interim dividends.
PZ Cussons Nigeria Plc
PZ Cussons Nigeria is on our watch list by virtue of the company’s promise to release its results for the financial year ending May 2018 within the stipulated time period of 90 days after the financial year has ended. This will end this month.
AGMs are an opportunity for management teams to inform shareholders of its plans for the rest of the year. Hence these companies occupy spots on our watchlist.
Linkage Assurance Plc
Linkage Assurance will be holding its Annual General Meeting (AGM) on August 28, 2018.
Learn Africa Plc
Learn Africa will be holding its Annual General Meeting on the 30th of August, 2018.
Red Star Express Plc
Red Star Express will be holding its Annual General Meeting on the 30th of August, 2018.
Flour Mills of Nigeria Plc
Flour Mills of Nigeria will be holding its Annual General Meeting on the 30th of August, 2018.
eTRANZACT International Plc
eTRNZACT International will be holding its Annual General Meeting on the 30th of August, 2018.
Smart Products Nigeria Plc
Smart Products Nigeria will be holding its Annual General Meeting on Thursday, August 30, 2018.