Stocks to watch is not a Buy/Sell/Hold list.
Lafarge Africa Plc
Lafarge Africa tops our watchlist by virtue of the company holding a Facts Behind the Figures session today at the Nigerian Stock Exchange (NSE). The company has performed poorly in the last few months, both in terms of results and share price performance.
The session would be an opportunity for the management team to provide a forecast for the rest of the year, as well as for 2019.
FCMB Group Plc
FCMB Group Plc has a spot on our watchlist by virtue of the company having an investor conference call on Wednesday this week. The group released its Q3 2018 results last week, and they showed a marked improvement year on year.
The conference call should provide more clarity as to how this was achieved, and the group’s plans for the coming year.
Resort Savings and Loans Plc
Resort Savings and Loans Plc has a spot on our watchlist by the virtue of the company’s release of its long overdue results dating to 2016 and 2017. The company could release some results for 2018, which should give a clearer picture of its current financial state, and draw it closer to an injection of funds by private equity firm, Milost Global.
Diamond Bank Plc
Diamond Bank Plc has a spot on our watchlist by virtue of being the worst performing stock last week, and indeed last month. The stock has dropped sharply to a 5 year low of N0.65.
The bank’s move to apply for a National Banking license, may ease some of the pressure to raise fresh capital.
Continental Reinsurance Plc
Continental Reinsurance Plc has a spot on our watchlist this week by virtue of being last week’s best performing stock. The stock gained 33.33% largely due to a notice issued last week pertaining to a proposed acquisition by its dominant shareholder, CRe African Investments Limited.
The stock could witness some volatile trading this week, as investors take positions for short-term gains.
Consolidated Hallmark Insurance Plc
Consolidated Hallmark Insurance Plc has a spot on our watch list by virtue of shareholders approval of a private placement, which would net the firm about N734 million.
The firm could witness some volatility in trading, as some investors may decide to sell off.