Stocks to watch this week comprises the top gainers and losers for the previous week, as well as companies that would be having corporate actions.
Stocks to watch is not a Buy/Sell/Hold list.
FBN Holdings, UBA and Access Bank take the joint spot on this week’s watchlist by virtue of being the three of the FUGAZ banks that are yet to release their 2018 full year audited results.
FBN Holdings is scheduled to hold a board meeting this week to consider its audited 2018 financial statements.
UBA and Access held board meetings in late January to consider the results, and as such, should release them any moment from now.
Zenith Bank takes the second spot since it will be due for a markdown on Monday. The stock could either dip further or rebound after this happens.
GSK Consumer Nigeria takes its place this week by virtue of releasing its results after closing hours. Investors may decide to take positions in the stock for short term gains.
AIICO Insurance Plc will be holding a board meeting on March 12, 2019, to consider the company’s full-year 2018 results and possible dividend payment. Hence its having a place on this week’s watchlist.
C & I Leasing Plc has a place in this week’s watchlist by virtue of a board meeting scheduled for March 14, 2019. The board will consider the company’s full-year 2018 audited results, and a CBN supervisory letter and examination report.
Custodian Investment Plc will be holding a board meeting on March 14, 2019, to consider the company’s audited financial statements and a proposal for dividends.
Transcorp Hotels and Transcorp Plc; The duo have a joint spot on this week’s watchlist, as they will be holding their AGMs on March 15, 2018.
Wema Bank was the best performing stock on the NSE last week. The stock gained 11.7%, to close at N0.86, and could appreciate further as investors anticipate an improvement in its 2018 audited full-year results, year on year.
Mutual Benefits Assurance was the worst performing stock this week. The stock shed 14.8% to close at N0.23 and could drop further depending on overall market sentiments.