Stock to watch this week, Airtel Africa

Stocks to watch comprises the top gainers and losers from the prior week, as well as companies that announced corporate actions after Friday’s trading or expected this week.

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

Forte Oil Plc

Forte Oil Plc takes the first spot this week, by virtue of being the best performing stock last week, gaining 14.17%. The stock could decline in the trading days ahead, as the buzz around it was due to a special dividend paid.

NAHCO

Nigerian Aviation Handling Company (NAHCO) Plc takes the second spot this week, by virtue of being the worst performing stock last week, declining by 11.8% to close at N2.99.

The stock, which is trading at a two year low, could decline or maintain its support level depending on general market sentiments.

Ellah Lakes Plc

Ellah Lakes Plc has a spot in this week’s watchlist, as the company will be holding a facts behind the listing session at the Nigerian Stock Exchange today.

Largely moribund in the last decade, the firm announced the appointment of Chuka Mordi as Managing Director, last week.

The event at the NSE would be an opportunity for the firm to provide information on its plans for the future.

Dangote Cement et al

The following companies all have a joint spot, as they will be holding their Annual General Meetings during the week.

Dangote Cement Plc, Dangote Sugar Refinery, Grief Nigeria Plc, Regency Alliance Insurance, Veritas Kapital Assurance Plc, and Japaul Oil and Maritime Plc.

Others in this spot include Stanbic IBTC Holdings, Linkage Assurance, Julius Berger Nigeria Plc, CAP Plc, BOC Gases Nigeria Plc, and Meyer Paints Plc.

FBN Heritage Fund will hold an EGM on the 20th of June, while Cadbury Nigeria Plc has its AGM on the 21st of June.

Lafarge Africa

Lafarge Africa Plc has a place in this week’s watchlist, as the company has indicated its intentions to release its full year 2018 reports on or before the 28th of June.

International Breweries

International Breweries Plc takes the last spot this week, as the brewer has yet to release its full year 2018 financial statements, neither has it given guidance on when it will do so.

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