Stocks to watch this week comprises the top gainers and losers from the previous week, companies that had corporate actions after Friday’s close of trading, and those expected this week.
Stocks to watch is not a Buy/Sell/Hold list.
Flour Mills of Nigeria Plc
Flour Mills takes the first place this week, as the company released its full year 2018/2019 results after Friday’s close. Investors may decide to take a buy position in a bid to benefit from a slight rally, following the declaration of a N1.20 dividend.
Red Star Express Plc
Red Star Express Plc takes the second spot this week, as the company will be closing its shareholders register this week, to update its records for dividend payment.
Shareholders may decide to take a buy position in the stock in a bid to qualify for the dividend. Investors could also decide to take position in the stock, following a markdown.
Sovereign Trust Insurance Plc
Sovereign Trust Insurance takes the second spot, as the stock was the best performing last week. The stock could witness a further rally, if traders decide to take a buy position.
Forte Oil Plc
Forte Oil Plc takes the third spot this week, as the company was the worst performing stock last week. The stock is trading at a year low, and could decline further if general market sentiments are negative.
International Breweries Plc
International Breweries Plc takes the next spot on the watchlist as the company’s board will be meeting on the 17th of July, 2019, to consider its half year 2019 results.
Lafarge Africa Plc
Lafarge Africa Plc has a “facts behind the figures” event at the Nigerian Stock Exchange (NSE) this week, hence a spot on this week’s watchlist. Events such as this, often provide an insight into a company’s plans for the year going forward.
Portland Paints and Products Nigeria Plc
Portland Paints and Products Nigeria Plc has a spot on this week’s watchlist as the company will be having a board meeting on the 19th of July, 2019 to consider the company’s half year 2019 results.
Abbey Mortgage Bank Plc and Tourist Company of Nigeria Plc
The two stocks have a joint place in this week’s watchlist, as they will be holding their Annual General Meetings this week.
Abbey Mortgage Bank’s AGM will hold on the 15th of July, while Tourist Company of Nigeria has its AGM on the 18th of July.
Performance of both firms has been poor in recent times; an indication that the meetings could be testy.