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.
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 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 watchlist, as 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 August, 2018. 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.