Stock Recommendation for this Week (February 26)
By Modupe Gbadeyanka
For the fourth consecutive session, the Nigerian equity market closed higher, gaining 0.74 percent on gains across all key sectors.
However, the All-Share Index still closed in negative territory last week, down 0.16 percent week-on-week due to heavier losses at the start of the week.
With market breadth remaining markedly positive and as investors scramble to take positions before the flurry of FY’17 earnings, we foresee another positive session today.
Also last week, PAINTCOM announced that its shareholders have agreed to a Scheme Agreement aimed at delisting the company from the Nigerian Stock Exchange (NSE).
Under the scheme, shareholders would be paid a cash consideration of N1.15k for every share held. The stock currently trades at 59 kobo per share and has remained flat since October 10, 2017.
On a look at the market this week, analysts at Vetiva Research have, as usual, released their stock recommendation, which is pictorially presented below.