Stocks to watch

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

Diamond Bank Plc

Diamond Bank Plc tops our watch-list for this week. The bank has been in the news in the last few weeks over reports that new investors may inject capital into the lender.

While the bank has denied this severally, the reports have remained persistent. Yet unconfirmed reports that broke on Saturday indicate that the bank may be one of three flagged by the CBN for having liquidity ratios below regulatory requirements.

News of likely investors led to a rise in the bank’s share price, before a decline last week.

Presco Plc

Presco has a spot in our watch-list this week by virtue of being the best performing stock last week.

The stock opened at ₦53 and closed at ₦59.85, up 12.92% or ₦6.85. If bearish sentiments in the market persist, investors could decide to cash their gains.

Unity Bank Plc

Unity Bank Plc has a spot on our watch-list by virtue of being the worst performing stock last week. The stock opened at ₦0.90 and closed at ₦0.71, down ₦0.19.The stock could decline further this week.

The downward trend may be partly due to the brief suspension placed on the stock by the NSE for failing to release its results when due. The results were released shortly after, and the suspension lifted the next day.

UAC of Nigeria Plc

UAC of Nigeria Plc has a spot on our watch-list by virtue of an upcoming investor conference call, following the release of its results for the third quarter ended September 30, 2018.

Management will be on the hot seat as the company may be in line to delivering its worst performance in the last 5 years.

The stock had slipped to a new 5 year low of ₦9 per share and could drop further in this new trading week.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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