NGX ASI falls 1.01% despite strong Lafarge and MTN earnings momentum
The NGX ASI closed at 1,646.3, down 1.0078% on May 19, despite pockets of strength as FTN Cocoa and Zichis each rose 10% and Oando also jumped 10% on 1 billion naira in turnover, according to analyst reports. Lafarge Africa reported 1.10 trillion naira in revenue and 411 billion naira in profit before tax for 2025, up 170%, Proshare reported. MTN Nigeria drove the South African group’s first-quarter earnings growth, while its return to profit was supported by FX stability and data growth, according to MarketForces Africa and Nairametrics. BUA Cement released its 2025 audited financial statements, Seplat Energy set the FX rate for its 2025 naira dividends, and Fitch affirmed Stanbic IBTC Holdings at AAA(nga) with a stable outlook, according to Proshare, TipRanks and MarketForces Africa.
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MTN leads NGX as ASI rises 0.81% amid $5 bln IPO push
The NGX ASI rose 0.81% to 1,871.46 on Aug. 10, after a 1.28% weekly gain as of Aug. 7 despite 27 decliners, according to analyst reports. MTN Nigeria drove the flow with H1 revenue of N2.99 trillion to N3.0 trillion and profit growth of 70.6% to 71% to N707.5 billion, while 4.9 million net subscriber additions lifted service revenue 25.9% to N3.0 trillion, according to Telecom Review Africa, Techeconomy and Investors King. The group also invested N1.62 trillion in network infrastructure and is still awaiting CBN approval to complete the sale of a 60% fintech stake, while the Xtratime suspension triggered a 72% collapse in Q2 fintech revenue, according to APAnews, Business Post Nigeria and Marketing Edge Magazine. Elsewhere, Seplat Energy’s H1 profit after tax jumped 498% to $164 million, cement companies grew H1 profit 40% to N1.17 trillion and BUA Cement wants to add 3 mmtpa through greenfield and brownfield projects, while Dangote Refinery’s $5 billion IPO is drawing closer and the JSE is pursuing a secondary listing, reports Financial Nigeria and African Capital Markets News.
Nigerian Exchange — DANGSUGAR Drops 7.2% in 5 Days as DANGCEM Jumps 8.7%
DANGSUGAR fell 7.2% over five sessions to 73.0 NGN, lagging an NGX ASI that rose 0.81%. The contrast with DANGCEM, up 8.7% to 1,047.0 NGN, points to a clear rotation into cement names and large-cap defensives.
Nigerian Exchange — NAHCO Jumps 9.3% as $86.26 Brent Revives Nigeria Cargo Trade Bet
NAHCO led NGX gainers with a 9.3% jump to 153 NGN in a market where losers still outnumbered gainers 32 to 16. Brent at $86.26 and a strong banking rebound helped lift the NGX All Share Index by 0.81%.