Flour Mills of Nigeria, Total Energies and MTN Nigeria made it into the stock to watch list for this week, as the capital market resumes trading activities for just three days due to the Eid-ul-Fitr public holiday slated for Monday and Tuesday.
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.
Flour Mills of Nigeria
Flour Mills of Nigeria (FMN) has increased its revenue source after completing the acquisition of its market rival, Honeywell Flour Mills Plc (HFMP) last week, a move that would improve shareholders investment.
FMN’s share traded upward following the report of regulatory approval for the deal on Friday, and days preceding the announcement, investment asset grew by 3.59%.
The deal makes Flour Mills a stock to watch this week, as the capital market turn bullish towards the consumer goods equity in expectation of share appreciation.
The oil & gas company has announced it will reduce its exposure in the Nigerian market, by exiting exploration and production of crude oil. This decision is expected to impact its turnover in the longterm.
Total will focus its energy on deep-water fields. While this eliminate the cost of operating in close proximity to local communities, the exit will weigh on its profit and financial strength, limiting value to shareholders.
Investors confidence in the telecommunications company has improved, as MTN Nigeria received approval to combine bank services with its telco business.
Last week, it also reported 22.2% growth in revenue for Q1 2022. The positive report emanating from MTN is expected to create more value for investors holding the y’ello network shares, as well as spark demand for MTN asset.
Already, the capital market is responding positively considering the firm’s share gained N6, and shareholders investment grew by 2.87%, between the period the regulatory approval was received on April 11 and the earnings report was released on April 29.
This makes MTN Nigeria one of the stocks to watch out for this week, as the bulls’ shift their sight on the telecommunications company.
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