Stocks to watch comprises the top gainers and losers of the previous week, as well as companies that announced corporate actions, or are expected to have theirs this week.
Stocks to watch is not a Buy/Sell/Hold recommendation.
Seplat Petroleum Development Co. Plc
Seplat takes the first spot this week, as the company had indicated that it would release its H1 2019 results on the 30th of July, and hold an investor call shortly after.
PZ Cussons Nigeria Plc
PZ Cussons Nigeria takes the second place in this week’s watchlist due to the impending release of its full year 2018/2019 results. While the firm has not given guidance to the exact day, its parent company, PZ Cussons UK, has since released its results.
FBN Holdings Plc
FBN Holdings Plc has a spot in this week’s watchlist, as the firm would hold a board meeting today to consider its H1 2019 results.
Prestige Assurance et al
Prestige Assurance Plc, C and I Leasing Plc, Mutual Benefits Assurance Plc, and Chams Plc, all have a joint place this week as they will be holding Annual General Meetings this week.
AGMs provide opportunities for management teams to give guidance on key plans for the rest of the current year.
Ellah Lakes Plc
Ellah Lakes Plc has a place in this week’s watchlist as the firm will hold an Extra Ordinary General Meeting. The firm will seek shareholders approval to raise capital, as well as ratify the appointment of some non executive directors.
NPF Microfinance Bank Plc
NPF Microfinance Bank Plc was the best performing stock last week, hence its taking a spot on this week’s watchlist. The stock could decline if short term investors decide to take profits.
Linkage Assurance Plc
Linkage Assurance Plc was the worst performing stock on the NSE last week, declining by 20.31%, hence its having a place on this week’s watchlist. The stock could rebound this week, depending on market sentiments.