Stock to watch this week, Airtel Africa

Stocks to watch this week comprises the top gainers and losers from the prior week as well as companies expected to have corporate actions this week.

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

GAZ Banks  

Three of Nigeria’s FUGAZ banks, Guaranty Trust Bank, Access Bank and Zenith Bank, once again top the watchlist, due to the impending release of their half year 2019 results. The three lenders also have a tradition of paying interim dividends.  

Conoil Plc  

Conoil Plc has a spot in this week’s watchlist, as the company will be holding its Annual General Meeting (AGM) on the 16th of August, 2019.  

PZ Cussons Nigeria Plc 

PZ Cussons Nigeria has a place in this week’s watchlistas the company could release its results anytime within the month of August. From precedence, the firm has typically released its full year results in August/September.  

Audited 2018 results were released on the 31st of August2018. Results for 2017, were released on the 6th of September, 2017. Audited 2016 results were released on the 17th of August, 2016.  

Cement Company of Northern Nigeria (CCNN) Plc  

Cement Company of Northern Nigeria Plc was the best performing stock last week, appreciating by 13.36% to close at N14, hence its place on this week’s watchlist. Short term traders could decide to take profit in the midst of a bear market. 

Continental Reinsurance Plc 

Continental Reinsurance Plc was the worst performing stock last week, hence its place on the watchlist. The stock declined by 19.19% to close at N1.33. 

The company has been on a free fall since a technical suspension placed on the stock was lifted. The suspension was lifted following a request by the Securities and Exchange Commission (SEC) that a fresh court ordered meeting be reconvened.  

 

Coronation Research
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

1 COMMENT

  1. if access bank knows that they will not pay out the dividend they declare, it is better that they use it to declare bonus scrip if hey know that they need the money,. i say this because this is the third time i have not received anything after declaration, surprisingly others are now complaining the same thing.

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