Stocks to watch

Stocks to watch comprises the top gainers and losers from the prior week, as well as companies that announced corporate actions after trading hours.

Stocks to watch is not a Buy/Sell/Hold recommendation.

Unity Bank

Unity Bank tops our watchlist by virtue of being the best performing stock last week. The stock gained 30.99% to close at N0.93.

Investors would most likely sell down their holdings in a bid to cash out their profits.

Diamond Bank Plc

Diamond Bank has held a spot consistently on our watchlist for a variety of reasons. From being the best and the worst performing stock in a trading week, to investor calls that were postponed, and now dispelled rumours about its liquidity ratio and a purported acquisition offer.

The bank has a spot this week by virtue of being the worst performing stock last week. Diamond Bank closed the week at a five year low of N0.90, shedding 29.69%. Price movement of the stock this week could depend on any news surrounding it, as well as an update on its investor call.

Prestige Assurance Plc

Prestige Assurance has a spot on our watchlist by virtue of the company proposing a bonus of 41 shares for every 100 held.

The stock could witness increased trading prior to the qualification date of November 27, 2018.

UACN Property Development Company

UACN Property Development Company has a spot on our watchlist by virtue of its Annual General Meeting (AGM) scheduled for November 20, 2018.

While the meeting may be postponed due to the public holiday declared by the Federal Government, it is bound to be a feisty one when it takes place. The company has recorded losses in the last few years, and its shares are trading at a 5 year low.

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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