MTN Nigeria, Airtel Nigeria, Union Bank and Dangote Cement made the stocks to watch list this week with their on and off capital market activities which made news in the business community.
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.
After the company released its earnings for first quarter of 2021, which showed increasing margins, Ripples Nigeria reported that the company lost over 2.41 million subscribers during the same period.
The subscriber loss was reported last week, and analysis shows that MTN lost the highest number of subscribers in three months. The report might have an impact on the company’s investor confidence as trading start this week.
The network provider reported in its financials last week that it will record $14 million loss due to anticipated naira devaluation, stating the currency policy will affect its balance sheet in the year.
The impact of this report on shareholders’ and.investors confidence is not known, but the impressive gains in its earnings in the first quarter might calm the nerves of stock traders at the capital market.
The decision by Atlas Mara to sell its majority shares in the lender seem to be having a negative effect despite stock gaining two days after Ripples Nigeria reported the foreign investor’s plan to exit.
After rising to N5.9kobo per share on Monday, the stock has since lost N0.25kobo, as Union Bank’s share price crashed to N5.65kobo per share. As capital market resumes this week, investors need to trade with caution as Union Bank’s stock has been on the decline for four days; Tuesday to Friday.
Investors’ confidence in the cement manufacturer has been a bit moderate for two days now, with Dangote Cement‘s stock price rising from N211.6kobo per share of Wednesday to N215 per share last week Thursday, and trading flat on Friday.
Investors’ confidence is not entirely high or low, but inbetween, so investors need to trade with caution as the company’s stock price had dropped at the start of last week’s trading.
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