Stocks to watch for the week ending 10th of August 2018
The Stocks to watch this week comprises the top gainers and losers in last week’s trading session, as well as companies that released financial results after trading hours on Friday. This week as financial analysts predict about the stock, it also includes companies having corporate actions or controversy around them.
This is not a buy or sell recommendation but more information about these stocks to help with insightful financial decisions.
Union Diagnostic is the first on our watch list this week as a result of being last week’s biggest gainer. The stock appreciated by 50% and could either witness a sell-off from investors that got in or a rally from those intending to buy in. The company also intends to hold its Annual General Meeting (AGM) this week.
STACO Insurance is on our watch list this week as a result of recent events which includes; a notice sent to the NSE informing the investing public of its dismissal of Sakiru Oyefeso, its founding Chief Executive Officer. The move, according to the statement, was due to misappropriation of funds, and breach of corporate governance best practice.
Bayo Fakorede has been appointed as the new Chief Executive Officer, subject to approval by the National Insurance Commission (NAICOM). As a result, Investors may decide to either sell off the stock or buy in depending on sentiments towards the new CEO.
Unity Kapital makes to the watch list, as a result of its release of the full year 2017 results, after trading hours on Friday. Gross premium written increased from N2.1 billion in 2016 to N2.4 billion in 2017. The company made a loss before tax of N558 million in 2017, as against a profit before tax of N408 million in 2016. It also made a loss after tax of N700 million in 2017 as against a profit after tax of N285 million made in the comparative period of 2016. Investors may decide to sell off the stock given this results.
C&I Leasing is on our watch list today because of the company’s planned Facts Behind the Figures presentation scheduled for this week. During such events, companies usually provide an insight into their plans for the rest of the year. As a result, investors can either buy in or sell out.
Zenith Bank is on the watch list today, as a result of the release of its First quarter 2018 results. The bank had, in a notice released a few weeks ago, stated that the results had been sent to the Central Bank of Nigeria (CBN) for approval. By virtue of this release, a number of investors may buy in.
PZ Cussons Nigeria is on the watch list because of the impending release of its full-year results. In the last few years, the company has released its audited full-year results in the first or second week of August. As a result, they might get the attention of investors.
To see the Stocks that were picked last week, click the link to the blog post http://www.infowarelimited.com/stocks-to-watch-this-week-aug-3rd-2018/