NGX ASI slips 0.27% as MTN Nigeria posts NGN1.11 trln profit
The NGX ASI fell 0.27% to 1,803.04 on July 15, even as selected stocks rose 10.0% for First HoldCo on July 14 and 9.3% for Thomas Wyatt on July 15, according to analyst notes. MTN Nigeria reported NGN1.11 trillion profit after tax for FY 2025, with the share price cited at NGN760, according to Proshare. Seplat Energy dominated company news with Tony Elumelu named chairman-designate, Effiong Okon set as incoming CEO, and a 15-year gas supply deal signed by the NNPCL/Seplat JV with UTM FLNG, according to Proshare and The Guardian Nigeria News. In Lafarge Africa, a proposed $1 billion acquisition by a Chinese company won Senate endorsement, while questions were raised over ownership of 66% of the shares, according to thestreetjournal.org and LEADERSHIP Newspapers.
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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%.