Stocks to Watch   

20th June, 2019

On the Bid Cart: Tides turned for WAPCO today after the announcement of the sale of its South Africa business to its Swiss parent company. After shedding 402bps in the previous session, the stock gained 995bps today to settle at
N10.50 – its largest gain since September 2018. WAPCO traded on full bid all day with insufficient supply to match demand. The Industrial Goods company has declined 16% YTD (vs Industrial Goods sector 14% decline).  

On the Offer Cart:  FO led the offer cart today after shedding 996bps to settle at 
N31.20. This decline ended a 35% seven session rally the stock has witnessed after crashing 22% m/m in May. This sharp price decline comes following an announcement by Femi Otedola, Chairman of the Oil & Gas company, that the divestment of his 75% stake in FO to Prudent Energy had been concluded, a transaction that became public knowledge in December 2018. The stock traded on full offer at the close of the session.

Reporting for EasyKobo on Thursday , 20 June 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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