Nigerian Exchange — First HoldCo Jumps 4.6% on NGN 3.44bn Turnover as Breadth Turns Negative

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%.

NGX rises 1.28% as MTN’s N3 trln revenue and Seplat’s $164 mln profit lift mood

The NGX ASI closed at 1,856.34, up 1.2777%, extending its weekly gain to 1.28% as Access and UBA led a rebound despite 27 decliners, according to Afrivestia analysts. MTN Nigeria dominated the tape with H1 revenue of nearly N3.0 trillion, net profit of N707.5 billion up 70.6% to 71%, 4.9 million new subscribers and an interim dividend of N26, according to Independent Newspaper Nigeria, Telecom Review Africa, Techeconomy, Investors King and Proshare. The group also cleared its FX debt, opening a new investment phase, while an FCCPC crackdown on airtime lending wiped out nearly 75% of fintech revenue, Business News Nigeria reported. In energy, Seplat Energy posted H1 profit after tax of $164 million, up 498%, while NNPC wants to acquire 10% of its JV for $281.6 million, according to Daily Trust and Punch Newspapers. In materials, cement companies lifted H1 profit by 40% to N1.17 trillion, while BUA Cement wants to add 3 mmtpa through a greenfield plant and a brownfield project after approving a N10.00 per share dividend, according to The Guardian Nigeria News, LEADERSHIP Newspapers and Proshare.

Nigerian Exchange — INTENEGINS slides 5.8% in 5 days as NGX ASI rises 1.28%

INTENEGINS fell 5.8% over five sessions to 4.04 NGN, underperforming a 1.28% rise in the NGX ASI. With an RSI of 40.29, a P/E of 18.4 and high risk, the stock is showing relative weakness in a sharply mixed insurance segment.