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Union Bank, MTN Nigeria, Japaul Gold, Eterna make this week’s stock-to-watchlist

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Begin your trading this week by looking out for Union Bank, MTN Nigeria, Japaul Gold and Eterna at the Nigerian capital market – if you wondering why, don’t wonder too far.

These four companies have made it into Ripples Nigeria list of stocks to watch this week due to their capital market activities and firm operations, which have been broken down in this article.

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

Union Bank

The lender now have an all clear to carry on with the acquisition deal that will see Titan Trust Bank Limited takeover the commercial bank, after Petro Union Oil and Gas Company Limited case ruled out.

Petro Union Oil had dragged Union Bank to a Federal High Court to block the acquisition deal over a debt owed to the former by the creditor, but the firm failed to succeed to convince the court.

This means the deal would no longer be hanging, as there have been uncertainty surrounding the future of Titan Trust Bank with Union Bank, which threatens future investment. Both companies will now focus on improving shareholders’ investment value.

MTN Nigeria

Prospective investors that purchased MTN Nigeria stock from MTN International in December have not received their shares, and there’s no time frame as to when the allotment will happen.

This has raised doubt over the possibility of the prospective investors receiving the N12.07 billion their investment gained in the past eight weeks, and it might cause the capital market to hold off on buying MTN shares amid the delay to approve the allotment.

Read also: GTBank, Nestle Nigeria, Eterna Oil and Neimeth make Ripples Nigeria stock watchlist

Such action could have an impact on the share value of MTN Nigeria, so when the Nigerian bourse resume activity this week, investors need to trade with caution.

Japaul Gold

Shareholders of Japaul Gold engaged in sell off during the five days of trading last week, resulting to the company losing 4.76 percent of its market capitalisation in the process.

So this week, Japaul Gold will be opening from a cheaper position, having seen its stock value drop to N0.40kobo per share from N0.42kobo per share, so trade with caution, as the dip might continue or the equity might rebound from the fall.

Eterna

The oil and gas company made it’s way into the top five best gainers last week, as its shareholders’ investment rose by 13.19 percent at the end of trading.

The capital market seems to be positive about the growth of Eterna, so the company will be opening its trading activity this week as one of the stocks to watch, but note a rising stock could trigger sell off.

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