Home Front Page Stocks to watch: A fiery AGM and the saga continues

Stocks to watch: A fiery AGM and the saga continues

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Stocks to watch this week comprises the top gainers and losers for the prior week, as well as companies in the news.

Stocks to watch is not a Buy/Sell/Hold recommendation. Here are the stocks on our watchlist for the week.

Stanbic IBTC and Diamond Bank

Stanbic IBTC and Diamond Bank have a joint tie for the top spot on our watch list this week.

Last week, the banks confirmed that fines imposed on them by the CBN had been deducted from their accounts. Both banks, however, disclosed that they would continue to engage the CBN, and the fines would have no impact on their day to day operations.

There could be more news surrounding the fine, MTN and the banks as a new week begins.

AG Leventis Plc

AG Leventis has a place on our watch list this week by virtue of the company holding its Annual General Meeting (AGM) on the 12th of September, 2018.

Management of the conglomerate will be on the hot seat, due to the recent spate of losses recorded since 2015.

Consolidated Hallmark Insurance Plc

Consolidated Hallmark Insurance is on our watch list by virtue of being the best performing stock last week on the Nigerian Stock Exchange (NSE), appreciating by 24%.

Law Union and Rock Insurance Plc

Law Union and Rock Insurance has a spot on this week’s watch list by virtue of being the worst performing stock. The stock closed at N0.54 last week, down 26.03%, and is currently trading at a year low.

Unity Bank Plc

Unity Bank is on our watch list by virtue of the non-release of its FY 2017 result, barely four months to the end of the 2018 financial year.

Last week, the bank disclosed it had sold N400 billion worth of bad loans to a new investor, Frontier Capital Alternative Asset Ltd.

The bank could release the results in question, anytime from now.

Skye Bank 

Skye Bank, alongside Unity Bank, has been on Nairametrics’ watch list due to their pending backlog of results.

Global Spectrum Services Plc

Global Spectrum Services will also be holding its Annual General Meeting on the 12th of September, 2018.

Tripple Gee and Company Plc

Tripple Gee and Company Plc will be holding its Annual General Meeting on the 13th of September, 2018.

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