Stock to watch this week

Stocks to watch comprises the top gainers and losers of the prior week, as well as companies that would be having corporate actions.

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

Fidelity Bank Plc 

Fidelity Bank Plc takes the top spot in Nairametrics’ watchlist by virtue of being the best performing stock last week. The stock gained 23.76% to close at N2.50. Depending on market sentiments, the stock could either go higher or drop, if investors decide to cash in their profits.

UBA Plc and Guaranty Trust Bank Plc

The two tier one lenders have a joint second spot, by virtue of board meetings taking place this week.
UBA’s board will be meeting today to consider the bank’s audited full year 2018 results and other matters.

Guaranty Trust Bank’s board will be meeting this Wednesday to consider the bank’s full-year 2018 results.

Guinness Nigeria Plc 

Guinness Nigeria Plc takes the third spot on our watchlist by virtue of an investor call scheduled for this week. The call pertains to its H1 2018/2019 results and may be an indication that the brewer would release its results this week.

The results and feedback from the call (scheduled on Thursday) would determine price direction of the stock this week.

Zenith Bank Plc 

Zenith Bank Plc has a spot on our watchlist, by virtue of a notice sent last week. In the notice, the bank stated that it had sent its results to the Central Bank of Nigeria (CBN) for approval. As such, the result could be out in a few weeks.

Unilever Nigeria Plc

Unilever Nigeria Plc has a spot on this week’s watchlist by virtue of the impending release of its full-year results.

In a notice released earlier this month, the company fixed a closed period from Monday 7 January 2019 until Thursday 24 January 2019 or 24 hours after filing the unaudited interim financial statements for the quarter ended 31 December 2018, whichever is earlier.

Resort Savings and Loans Plc

Resort Savings and Loans Plc has the last spot on our watchlist by virtue of being the worst performing stock last week. The stock has been on a free fall since the removal of a full suspension and is trading at an all-time low.

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