Weekly Stock Recommendation
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WHAT TO EXPECT THIS WEEK:
We anticipate the continuation of fair levels of bargain hunting and cherry picking activities this week. We also expect a considerable level of bearish activities on some banking stocks in the week (e.g. FBNH), given the recent report on the Central Bank of Nigeria’s (CBN) directive barring banks with huge bad loans from paying dividends.
On a balance of factors, we expect a fairly volatile trading week, with the change of the index level settling slightly negative, barring massive bullish activities on non-banking blue chip stocks.
We still recommend that investors should focus their interest in stocks with a history of positive earnings growth and dividend payments with attractive yields.