Last week, the Nigerian Stock Exchange (NSE) underperformed, with the decliners rising above the gainers. However, despite the lose to investors, some companies caught the eye of Ripples Nigeria.
These companies made it into the list of stocks to watch for this week. The companies were selected based on their stock performance and company activities during last week’s trading.
Ripples Nigeria Stocks Watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.
Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
Ecobank made Ripples Nigeria’s stock to watch due to the company’s announcement which revealed its plan to secure $300 million loan from the London Stock Exchange (LSE). The bond has a maturity tenor of 5years, but it will have an impact on the company’s financials.
While the company plans to infuse the capital into its operation, prospective or existing investors should note that the bond is a liability on Ecobank’s balance sheet, as the lender will be indebted to the foreign investors, weakening their capital base. Meanwhile, in the just concluded trading week, Ecobank opened trading at N6, but closed the week at N5.50kobo.
Heineken, the majority shareholder of Nigerian Breweries, reported it underperformed during it’s full year 2020, prompting Heineken to put its workers on alert, as it intend to sack 2000 workers across its global markets.
Although Heineken stated that its products performed well in Nigeria, but it’s not certain if Nigerian Breweries products also shared the same experience, as COVID-19 impact have prevented the Nigerian brewer from concluding and approving its full year financials.
In its nine months statement for 2020, Nigerian Breweries earnings had plunged to N234.03 billion, below the N235.67 billion the company generated during the corresponding period.
So investors need to trade with caution as no-trade (bars, club, cafe, etc) partners are still operating below capacity in Nigeria, couple with the declining purchasing power; this will have an impact on Nigerian Breweries revenue growth.
Living Trust Mortgage Bank
The financial firm made the list due to its performance during last week trade. Living Trust drove trading last week, heading the top trade, as investors interest was high.
Investors traded 796.45 million on Thursday, February 11, making it the company’s highest volume of shares traded in the past three months. Living Trust currently trade at N0.62kobo, and the rush towards it shares reflect positive confidence among investors.
Mutual Benefits Assurance
Having recorded 10.53% rise in its share price during last week’s trading, Mutual Benefits was ranked the highest gainer for that week. The rise in its share price shows existing investors confidence in the company is high.
It also reflected that existing investors have a long position plan for Mutual Benefit, and not willing to sell-off shares just to protect their profit over uncertainty. The company had opened trading for the week at N0.38kobo, and closed the week with N0.42kobo.
Northern Nigeria Flour Mills
The manufacturer made the list due to its declining performance in the last week trade. Northern Nigeria Flour Mills topped the decliners having lost N1.63kobo during the trading week.
Existing investors confidence seem to have dropped last week, as they were willing to sell at a loss, to prospective investors that were willing to buy for less, causing the company’s share price to close the week with N7.02 against the N8.65kobo it opened the week with.
By Fakoyejo Olalekan…
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