FBN Holdings, Honeywell Flour, Zenith Bank, Flour Mills make Ripples Nigeria stocks-to-watch list

Honeywell Flour Mills, Zenith Bank, Flour Mills Nigeria, and First Bank of Nigeria made the list for this week’s stocks to watch list as the capital market trading activities resume.

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.

Honeywell Flour

Honeywell Flour Mills Plc (HFMP) has been one of the most sought after stock in the Nigerian capital market since Flour Mills of Nigeria (FMN) announced that it plans to acquire the firm.

HFMP’s stock rose by 6.45 percent in five days of trading last week, gaining N0.24kobo to its value which settled at N3.96kobo per share on Friday, from N3.72kobo of last week Monday.

The impending acquisition is fuelling the growth of Honeywell’s equity in the Nigerian bourse, and it will continue from where it left off, so investors should have their eyes out for the stock this week, but trade with caution due to profit-takers taking advantage of the sharp appreciation.

Flour Mills of Nigeria

FMN’s inorganic growth plan, which is the acquisition of Honeywell Flour, has dragged the firm into a faceoff with Ecobank. The lender has warned Flour Mills not to make the acquisition.

Read also: First Bank, Vitafoam, Conoil, Cutix make Ripples Nigeria stocks-to-watch list

Ecobank said Honeywell is indebted to it, and the lender is in court to secure an order to obtain part asset of the debtor. Such action could affect Flour Mills Nigeria, reduce its investment value and drag it into a court battle, as FMN will be taking over Honeywell’s liabilities.

Although, FMN and Honeywell has denied having such case in court, and FMN said the issue will not affect the company – either ways, uncertainty is currently hovering over Flour Mills Nigeria.

Zenith Bank

Zenith Bank should be in your stocks to watch this week, as the firm’s Group Managing Director, Ebenezer Onyeagwu, made an insider trading last week.

The Chief Executive purchased 1.70 million shares at a cost of N41.03 million. This shows the top exec sees a longterm positive growth for Zenith Bank stock.

Insider dealing is a signal or map pointing shareholders and prospective investors on direction to take regarding a company stock, so Onyeagwu’s share acquisition will have an impact on the market’s confidence.

First Bank Nigeria

Total investment held by First Bank Nigeria investors declined by 2.43 percent last week, as the bears and bulls struggle for control over the firm’s stock.

The stock value of FBN lost N0.3kobo in the process, a slight decline from the N12.3kobo per share it opened last week with, to end the week with N12 per share.

The sideways trading amid renewed uncertainty surrounding the leadership tussle between Femi Otedola and Tunde Hassan-Odukale makes First Bank equity one of the stock to watch out for this week.

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