Stocks to watch this week comprises the top gainers and losers of the prior week, as well as companies that had corporate actions after trading hours.
Stocks to watch is not a Buy/Sell/Hold recommendation.
Here are the stocks to watch this week.
Seplat Petroleum Development Company and Oando Plc
Seplat Petroleum and Oando Plc have a joint spot on our watchlist by virtue of their having major upstream oil operations. Militant attacks resumed in the Niger Delta yesterday, and if they persist, both firms could be affected.
Attacks on the Trans Forcados pipeline, at the peak of militant attacks in the region, led to its shut down and Seplat recording major losses.
Custodian Investments Plc
Custodian Investments Plc tops our watchlist by virtue of it being the best performing stock last week. The stock gained 16.9% last week and is trading N0.02 away from an all-time high of N6.10.
The stock could very well break that ceiling this week, or retrace.
FCMB Group Plc
FCMB shed 16.49% last week, to close at N1.62. The stock could decline further this week, due to the negative sentiments in the larger market as a whole.
Access and Diamond Banks
Access and Diamond Banks have made recurrent appearances in the last few weeks and will continue to do so, till the conclusion of the merger process. The two banks were also on the losers’ chart last week, with Access at a six month low.
