Stocks to watch comprises the top gainers and losers from the previous week, companies having corporate actions, as well as those that released their results after trading hours.
Stocks to watch is not a Buy/Sell/Hold list.
Skye Bank Plc
Skye Bank Plc tops our stocks to watch this week. While the stock is under suspension, due to the revocation of its licence by the Central Bank of Nigeria (CBN), Governor of the apex bank Godwin Emefiele had hinted at an arrangement for retail investors to recover a small part of their investment.
More details about this could emerge next week.
Niger Insurance Plc
Niger Insurance Plc tops our watchlist this week by virtue of being the best performing stock of the previous week. The stock closed at N0.37, up N0.06 or 19.35%.
PZ Cussons Nigeria Plc
PZ Cussons Nigeria has a spot on our watchlist by virtue of its Annual General Meeting (AGM) which will be coming up this week, as well as its Q1 2018/2019 results which were released after trading hours. The AGM is bound to be a heated one in view of the company’s poor results.
The stock could also witness downward selling pressure in view of the poor results.
AIICO Insurance Plc
AIICO Insurance Plc has a spot on our watchlist by virtue of an Extraordinary General Meeting (EGM) which will be holding this Friday. Shareholders are bound to kick against the proposed private placement which will result in dilution of their holdings.
Union Bank Plc
Union Bank was the worst performing stock last week, hence a spot on our watchlist. The stock opened at N5.80 and closed at N5.10, down N0.70. Year to date, the stock is down 34.62%, and is trading close to its 52 week low of N4.92.
