Stocks to watch comprises the top gainers and losers from the previous week, as well as companies that are expected to have corporate actions. Stocks to watch is not a Buy/Sell/Hold list.
Access Bank and Zenith Bank
Access Bank and Zenith Bank have a joint first place in this week’s watchlist due to the impending release of their H1 2019 results. Investors would also be keen on the stocks, as they have a culture of paying interim dividends.
Tier one peer, Guaranty Trust Bank, released its H1 2019 results last Friday. The three banks tend to release their results in close proximity.
Guaranty Trust Bank
Guaranty Trust Bank takes the second spot this week, following the release of its H1 2019 results on Friday. An investor call should be in the works. For investors and analysts, this would be key as management would shed light on plans for the rest of the year, as well as the new CBN Policy.
BOC Gases
BOC gases takes the third spot in this week’s watchlist, as the company was the best performing stock last week and is trading at a 5-year high. The stock could either rally further or pull back, if short term investors decide to cash in their gains.
RAK Unity
RAK Unity was the worst performing stock last week, hence its place on this week’s watchlist. The stock, though thinly traded, could either rebound or decline further depending on the general performance of the market.
The company will also be holding its Annual General Meeting (AGM) this week.
Wapic Insurance Plc
Wapic Insurance Plc held an Extraordinary General Meeting (EGM) last week, and is yet to issue a statement on the resolutions arrived.
Like for other insurance firms, investors would be keen to know the company’s plans to meet the new capital requirements set by the National Insurance Commission (NAICOM).
International Breweries et al
International Breweries Plc, Cornerstone Insurance Plc, Deap Capital Management & Trust Plc, have a joint spot in this week’s watchlist, as they will be holding their AGMs this week.
International Breweries will hold its AGM on the 20th of August, Cornerstone Insurance on the 21st of August and Deap Capital on the 22rd of August. Rak Unity’s AGM will hold on the 23rd of August.
AGMs are opportunities for shareholders to get insights from management teams on their plans for the remaining part of the year.