Stocks to watch this week comprises the top gainers and losers of the previous week, as well as companies that will be having corporate actions this week.
Stocks to watch is not a Buy/Sell/Hold list.
MTN Nigeria tops the watchlist for the second week running by virtue of a notice released last Saturday, that it had received a letter from the Economic and Financial Crimes Commission (EFCC) requesting for information pertaining to its listing on the Nigerian Stock Exchange.
The news could lead to a decline in the company’s share price, as the telco has an ongoing case with the Office of the Attorney General of the Federation.
Thomas Wyatt Plc
Thomas Wyatt Plc takes the second spot this week, having led the gainers for last week. The stock gained 29.03% last week and is up by over 70% year to date. Investors at this point, may decide to sell down some of their holdings and cash their profits.
Consolidated Hallmark Insurance Plc
Consolidated Hallmark Insurance Plc was the worst performing stock last week, hence a spot on this week’s watchlist. The stock declined by 20.69% last week, and could either rebound or fall further, depending on investor sentiments.
Courteville Business Solutions Plc et al
Courteville Business Solutions Plc, Nestle Nigeria Plc, Portland Paints and Products Plc, Livestock Feeds Plc and May & Baker Plc, all have a joint spot this week, due to their Annual General Meetings holding this week.
Presco Plc maintains a spot in the week’s watchlist for the second week running, as the company is yet to release its audited results for the 2018 financial year and first quarter ended March 2019.
In a notice sent to the NSE, the firm had stated that it would do so on or before the 31st of May, 2019.
Unity Kapital Assurance Plc
Unity Kapital Assurance Plc makes a rare appearance in Nairametrics’ watchlist. The company last week released its full year 2018 audited results, and could thus release first quarter 2019 results in due time.
Ikeja Hotel Plc
Ikeja Hotel Plc takes a place in this week’s watchlist as the company will be holding a Facts Behind the Figures presentation at the Nigerian Stock Exchange (NSE) this week.
International Breweries Plc
International Breweries Plc rounds up the stocks on this week’s watchlist, as the company is yet to release its results for the financial year ended December 2018.
While the company did not give any specific date, the results are way overdue.