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MTN Nigeria, Airtel, First Bank and GTCO make stocks-to watch-list

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Ripples Nigeria stocks watchlist

This week’s stocks watchlist consist of two Nigerian banks, First Bank Nigeria (FBN) Holdings and Guaranty Trust Holding Company.

Also on the list are telecommunications companies, MTN Nigeria and Airtel. The companies featured on the watchlist due to their capital market activities and on-field.

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.

MTN Nigeria

MTN Nigeria stock has been one of the most sought after since its parent company sold off some shares, driving investors’ asset value up by 7.16 percent last week.

Shareholders ended the week with N254.43 billion, and will start this week’s trading on that note, but with the stock trading flat for three days last week, there’s a probability of sell off among short term holders.

First Bank

The lender continues to make changes in its board as it seek to steady the rocky ship. Ahmad Abdullahi replaced Remi Babalola, as Chairman of FBN Holdings.

Under Babalola, there have been misunderstanding over ownership between Femi Otedola and Tunde Hassan-Odukale, with First Bank mishandling the situation until it provoked a query from the capital market authority.

Read also: Neimeth, Oando, Sterling Bank top Ripples Nigeria stocks watchlist

The issue still persists, and its left to be seen how Abdullahi will handle the situation, but in the week of his takeover, the share value of FBN appreciated by 1.26 percent, as the capital market remained bullish on the lender.

Airtel Nigeria

Airtel Nigeria failed in its bid to acquire 5G spectrum to boost its operation in Nigeria, as its rivals, MTN Nigeria and Mafab Communications won the auction instead.

This is a big blow to Airtel and its shareholders, considering the 5G network would have positively impacted its revenue generation and improve stakeholders investment in longterm.

However, that won’t be the case anytime soon, as MTN and Mafab will be the first set of beneficiaries of the opportunities 5G has to offer the telecom market.

GTCO

Guaranty Trust Holding Company (GTCO) will open trading this week from last week’s decline which caused its shareholders to lose N26.48 billion during five days of trade.

GTCO share had depreciated 3.39 percent in the previous week, so prospective short position investors trading in the lender’s equity need to exercise caution in the capital market.

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