Stock to watch this week, Airtel Africa

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

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

UBA and Fidelity Bank

UBA and Fidelity Bank have a joint first place in this week’s watchlist, as the banks are likely to hold investor calls following the release of their H1 2019 results last week.

The two lenders had decent improvement in their bottomlines, and investors would be keen on their managements’ plans to maintain the performance in the second half of the year.

Access Bank Plc

Access Bank takes the second place in this week’s watchlist, as the lender has indicated that it would release its results on or before the 15th of September, 2019. Investors would be on the lookout as the bank has a culture of paying an interim dividend. It is the only bank left of the FUGAZ that has yet to release its H1 2019 results.

Forte Oil Plc

Forte Oil Plc takes the third place, as the company would be having its Annual General Meeting on the 3rd of September 2019. Investors would be keenly interested in knowing the majority shareholder’s plans for the company for the rest of the year.

Flour Mills and NNFM

Flour Mills of Nigeria and Northern Nigeria Flour Mills have a joint place, as they will be holding their Annual General Meetings on the 4th and 5th of September 2019 respectively.

Seplat Petroleum

Seplat has a spot in next week’s watchlist, as it was the worst performing stock last week. The stock declined by 18.84% (closing at N397) and is currently trading at a 2-year low.

John Holt Plc

John Holt Plc takes the last spot in this week’s watchlist, as the company was the best performing stock last week, gaining 19.57%.

While one would expect the stock to rank higher, the firm has had poor fundamentals and the appreciation may be due to short term speculation. Investors could decide to cash in their profits depending on market sentiments.

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