FX RATES
FX RATES

MTN Nigeria, First Bank, Airtel Africa Amongst Stock To Watch This Week

Stocks to watch this week consist of MTN Nigeria, First Bank, Airtel Africa and Cornerstone Insurance. Their selection has been based on different factors that occurred last week.

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 is heading into the debt market again, as it seeks to borrow N89.999 billion through bond series II, having drawn N110 billion in Series 1. This is expected to increase its current debt of N578 billion.

This will weigh on the company’s balance sheet, even though it says it has the capacity to back the debt with its enormous revenue generation, Ripples Nigeria gathered that some investors have been selling off since the announcement of the Series II.

So when heading into the capital market this week, trade with caution as usual.

First Bank

The lender’s stock has been one of the most sought after in the capital market in the past few weeks, reason why it ended the capital market as one of the best gainers last week.

First Bank share value rose by 21.73 percent after gaining N1.75kobo during the five days of trading. It was also among the top three equities for last week as the financial sector ended as the most patronised.

Airtel Africa

The telecommunications company has announced that it will be buying back shares held by Nigerian shareholders in Airtel Networks Ltd, its local subsidiary, in a bid to tighten control over Airtel Nigeria.

The acquisition will cost Airtel Africa N61.24 billion if all shareholders tender their shares for sell. The network provider said it will use the exchange rate of N413.38/$1 at the Investors and Exporters (I&E) window to perform the transaction.

Stocks to watch this week consist of MTN Nigeria, First Bank, Airtel Africa and Cornerstone Insurance. Their selection has been based on different factors that occurred last week.

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 is heading into the debt market again, as it seeks to borrow N89.999 billion through bond series II, having drawn N110 billion in Series 1. This is expected to increase its current debt of N578 billion.

This will weigh on the company’s balance sheet, even though it says it has the capacity to back the debt with its enormous revenue generation, Ripples Nigeria gathered that some investors have been selling off since the announcement of the Series II.

So when heading into the capital market this week, trade with caution as usual.

First Bank

The lender’s stock has been one of the most sought after in the capital market in the past few weeks, reason why it ended the capital market as one of the best gainers last week.

First Bank share value rose by 21.73 percent after gaining N1.75kobo during the five days of trading. It was also among the top three equities for last week as the financial sector ended as the most patronised.

Airtel Africa

The telecommunications company has announced that it will be buying back shares held by Nigerian shareholders in Airtel Networks Ltd, its local subsidiary, in a bid to tighten control over Airtel Nigeria.

The acquisition will cost Airtel Africa N61.24 billion if all shareholders tender their shares for sell. The network provider said it will use the exchange rate of N413.38/$1 at the Investors and Exporters (I&E) window to perform the transaction.

Cornerstone Insurance

Last week’s capital market didn’t end well for Cornerstone Insurance, as the company topped the losers table, taking over from Mansard, which had occupied the position a week before.

Cornerstone Insurance market value dropped by 12.07 percent as some shareholders sell off their stake to protect their investment and take out their capital from the firm in the five days of trading – so when trading this week, trade with caution.

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