Stock to watch this week, Airtel Africa

Stocks to watch on the Nigerian Stock Exchange (NSE) comprise the top gainers and losers of the prior week, as well as companies with corporate actions or expected results.  

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

FBN Holdings  

FBN Holdings takes the top spot this week by virtue of being the only tier one bank yet to release its full-year 2018 results. The bank has consistently taken a spot in Nairametrics watchlist in the last few weeks., for this reason.  

The holding company, in a notice sent to the NSE this week, attributed the delay of its full-year results to the inability of key subsidiaries to obtain final regulatory approval for their resultsas well as the requirements for the adoption of IFRS 9.  

The firm, however, stated that it expects to release the results in question on or before the 30th of April.  

Ikeja Hotels 

Ikeja Hoteltakes the second spot this week by virtue of being the best performing stock last week. The stock gained 20.21% and could rise further in the weekdepending on market sentiments. 

Unilever Plc 

Unilever Plc’s qualification date of April 12, 2019, grants the firm a spot on this week’s watchlist.

There may be heavy trading in the company’s shares as investors may decide to offload shortly after the qualification date.

Chams Plc  

Chams Plc traded heavy volumes last week and was one of the top three best-performing stocks. The rally is largely due to the declaration of a dividend after close to a decade of non-payment. 

Deal book 300 x 250

Investors may continue to take positions in the company for this trading week.  

Eterna Plc 

Eterna Plc takes the last spot this week, by virtue of being the worst performing stock. The stock declined by 24.53% and could witness a rebound if bargain hunters take positions 

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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