The vigil continues for these tier one bank results

The vigil continues for these tier one bank results

Stocks to Watch cks to watch comprise stocks that were the top gainers and losers in last week’s trading, those that released their results or made key announcements after the trading session, and those in the news.

This is not a buy sell or hold recommendation. UBA Plc and Access Bank Plc

Tier one lenders UBA and Access Bank top our watch list by virtue of the impending release of their audited H1 2018 results. The two banks are the only ones of the FUGAZ banks that are yet to release their results. They also have a tradition of paying interim dividends. Skye Bank Plc

Skye Bank makes our watch list by virtue of a possible release of its financial statements dating to 2016.

The bank, in a notice to the NSE had disclosed that it had submitted its results to the Central Bank of Nigeria (CBN) for approval. International Breweries Plc

International Breweries has a place in this week’s watch list by virtue of being last week’s highest gainer.

The stock closed at N35.20, up N3.20 or 10%. The stock could dip or rally, depending on sentiments in the market this week. Neimeth International Pharmaceuticals Plc

Neimeth was the worst performing stock last week, thus earning a spot on our watch list. The stock fell by 25% to close at N0.60.

Investors may have cashed out their gains from the penultimate week, when the stock topped the chart, and could reenter if the stock shows further correction this week. PZ Cussons Nigeria Plc

PZ has a spot on our watch list because of the impending release of its full year results. The company had stated that it would submit its results within the statutory deadline which would expire at the end of the month.

Unity Bank PlcUnity Bank takes the last spot on our watch list. The bank is yet to submit its full year 2017 results. A notice issued in May, stated that its FY 2017 results were undergoing approval.The delay in FY 2017 results means that it has submitted no results this year.

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