Geregu, Airtel Africa, First Bank make stocks to watch list

Geregu, Airtel Africa and FBN Holdings made it into this week’s stocks to watch list as the exchange resumes four days of 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.

Geregu Power

The power plant company extended its recovery from the losses recorded in the first and second week of December, as the firm’s share grew by N33.50kobo in the last week of last month.

This increased the investment value of shareholders by 29 per cent within three days amid confirmation by Afreximbank’s FEDA that it has received approval to acquire minority stake in Geregu.

Demand for Geregu’s share rose, resulting to the stock price hitting N149 per share on Friday, December 30, 2022, above the N115.50kobo it opened trading with on Wednesday, December 28.

FBN Holdings

The shareholders of First Bank of Nigeria Holdings (FBN) lost -7.63 per cent of their investment value in the last week of December last year.

Demand for the share of FBN Holdings dropped as the capital market resumed for three days trading after Christmas public holiday on Monday and Tuesday.

READ ALSO:Stock Roundup: Investors trade N18.9bn shares in three days

As a result of the drop in demand, FBN share value depreciated to N10.90kobo, from N11.80kobo. This was enough to push the firm into the top five losers’ list.

With the capital market resuming for another trading week, investors are advised to trade with caution, as the bears could still be finding their way out of FBN.

Airtel

Last year, Airtel Africa was the best performing telco stock in the Nigerian capital market, as shareholders of the firm recorded 87.05 per cent return on investment.

This surpassed the 18.13 per cent MTN Nigeria shareholders recorded during the same 12 months of 2022. This means Airtel offered more investment value last year and was investors preference in 2022.

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