Stocks to watch comprises the top gainers and losers for the prior week, as well as companies that released results or key corporate actions after trading hours on Friday.
Stocks to watch is not a Buy/Sell/Hold recommendation
Nigerian Breweries takes the first place on this week’s watchlist, by virtue of its releasing its audited full year 2018 results after trading hours. Investors may react negatively to both the lower dividend and drop in revenue and bottom-line.
Transcorp Plc also released its results after trading hours, hence a spot on our watchlist. Investors may sell off the stock which rallied sharply last week, due to the poor dividend of N0.03 per share declared.
Wema Bank was the best performing stock last week, hence a spot on our watchlist. The stock could have further upside this week, depending on general market sentiments.
C and I Leasing
C and I Leasing has a spot on our watchlist this week, by virtue of being last week’s worst-performing stock. The stock shed 18%, and has been on a decline since resuming trading after a share reconstruction.
The FUGAZ Banks
The FUGAZ Banks (FBN Holdings, UBA, Guaranty Trust Bank, Access Bank and Zenith Bank) have a joint spot in this watchlist. Most have held board meetings and submitted their results.
They could release them within the week or immediately after the Presidential elections. FUGAZ stocks could also suffer heavy losses if the market reacts negatively to the postponement of the elections.
Royal Exchange Plc
Royal Exchange Plc takes the last spot on this week’s watchlist, by virtue of an emergency meeting held last week. Top on the agenda was a proposed investment in the firm. Also, resolutions from the meeting have not been released.