Stocks to Watch   


27th May, 2019


On the Bid Cart: The steep rise in the price of UNILEVER is an effect of investors hunting for bargains on the year-low trading price of the security. The stock gained 871bps to settle at N 33.70. It initially hit its year low of N 31.00 on the 23rd of April, 2019 and hovered around that level as investors hunted for bargains and subsequently took profit on the gains. UNILEVER traded as high as N 47.00 in February but has declined 9% YTD while the Consumer Goods sector has declined 16% over the same period.

On the Offer Cart:  MTNN extended losses to open the new week, shedding 714bps to settle at N 130.00. MTNN single-handedly reversed the bearish direction of the NSE ASI after listing on the 16th of May, 2019 and traded 77% above its listing price after only a week of listing. The stock now trades at a 44% premium to its listing price. Today's steep decline on the stock could be a result of the news that came at the end of last week that the Economic and Financial Crimes Commission are investigating circumstances surrounding the company's listing. MTN Nigeria has since released a statement assuring their shareholders and the general public that they have not been accused of any wrong doing by the EFCC. 


Reporting for EasyKobo on Monday , 27 May 2019 in Lagos, Nigeria


Source: Vetiva Capital Management Limited    


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