Stocks to watch this week comprises of the top gainers and losers from the previous week, as well as companies that had corporate actions after trading hours.
Stocks to watch is not a Buy/Sell/Hold recommendation.
UAC of Nigeria Plc tops our watchlist by virtue of being the best performing stock last week. The stock hit a 5 year low of N9.00 per share two weeks ago but has since recovered.
The stock could either fall to a new low or rebound depending on market sentiments.
Movement in the stock’s share performance would also depend on any information filtering out from the company’s investor call which should hold anytime from now.
Mutual Benefits Assurance Plc
Mutual Benefits Assurance has a place on our watchlist by virtue of being the worst performing stock last week. The stock declined by 23.33% to close at N0.23.
It could decline further in the coming weeks, or rebound depending on general market sentiments.
Diamond Bank Plc
Diamond Bank Plc has a spot on our watchlist by virtue of a pending investor conference call. The call, scheduled to hold last week, was postponed.
Investors would have several key questions for management pertaining to rumours of new investors which the bank has denied severally.
PZ Cussons Nigeria Plc
PZ Cussons Nigeria has a spot on our watchlist by virtue of being one of the top 10 losers in the previous week, and closing at a 5 year low of N9.00 last Friday. The stock could fall further, or recover this week, depending on market sentiments.
The fall in share price has been largely due to the company’s poor string of results.