Business Latest

Airtel, Access Bank, Guinness, Zenith Bank make Ripples Nigeria stock watchlist

Airtel, Access Bank, Guinness, Zenith Bank make Ripples Nigeria’s stock watchlist

The Nigerian Stock Exchange (NSE) had 4 days of bearish sessions that even one day bullish run could not overturn. Within this period a lot of quoted companies, including tier 1 banks, released their financial statements for the period ended September 30, 2019. Some were impressive while others not so impressive.

Out of the traded stocks with corporate actions from last week, we have carefully curated a list of stocks you should watch out for this week.

Stock watchlist is a list of securities being monitored for potential trading or investing opportunities. An investor or trader may create a watchlist of several, dozens or even hundreds of trading instruments to make more informed and opportune investment decisions. Lucky for you, we have reduced the hassle.

Ripples Nigeria’s stock watchlist is not a buy, sell, or hold signal. Consult your financial advisor before making any investment related decision.

Cornerstone Insurance

Cornerstone Insurance takes the number one position by virtue of being the best performing stock of last week’s trading. The stock opened at N0.32 and closed at N0.38, gaining 18.75%.

Guinness Nigeria

Guinness Nigeria comes on the second position because of its poor performance during last week’s trading. The stock opened at N29.35 and closed at N23.85, losing 18.74%. Guinness Nigeria released unimpressive Q3 2019 results where it recorded 144% loss in the period.

Airtel Africa

Airtel comes third for its half year 2019 financial statement released during last week. Airtel recorded earnings before interest, taxes, depreciation and amortization (EBITDA) increase of 10.9% of N219.3 billion. Profit after tax increase by 11.9% to N69.5 billion.

Access Bank

Access Bank is on our watchlist because of its Q3 2019 financial statement for the period ended September 30, 2019. The stock witnessed profit after tax rising by 44.23% to N90.7 billion. This will be the first Q3 2019 Access Bank is releasing after its merger with Diamond Bank.

Read also: Transcorp Hotels, GTBank, Seplat make Ripples Nigeria stock watchlist

Zenith Bank

Zenith Bank made it to our watchlist by virtue of its Q3 2019 financial statements for the period ended September 30, 2019. The tier 1 lender posted a profit after tax of N150.7 billion, representing a marginal 4.54% increase.

UBA

UBA comes up on our watchlist as it joined the list of companies to release their results.  UBA posted a 32.3% increase in profit after tax of N81.6 billion.

FBN Holdings

FirstBank is on our watchlist for releasing their results for the Q3 2019 period ended September 30, 2019. The bank recorded 15.33% increase in profit after tax of N51.8 billion.

Lafarge Africa

Lafarge – quoted on the NSE as WAPCO – is on our stock watchlist for releasing a corporation action debunking news of a probe by the Securities and Exchange Commission (SEC). It was alleged that shareholders were aggrieved by alleged sharp practice by the cement company, but Lafarge said they are yet to receive notification that will require a probe from SEC.

Seplat Petroleum Development Company

Petroleum upstream exploration company, Seplat made it to our watchlist for reaching an acquisition deal with British petroleum company, Eland Oil and Gas Plc. The deal will see Seplat paying 166 pence per share for Eland acquisition.

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!