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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The NGX ASI closed at 1774.11, up 1.0474% on July 31, after posting a 1.05% weekly gain according to analyst reports. MTN Nigeria reported a record N1.09tn pre-tax profit for H1 2026 and declared a N26 interim dividend, Arise News reported, despite recent pressure on the stock flagged by analysts. Seplat signed a $281.6 million deal to sell a 10% JV stake to NNPC while retaining operatorship, according to Arise News, after the stock fell 2.0% over 5 days in analyst notes. The weekly advance was also led by Eterna and insurers, while DANGCEM jumped 8.7% and NGXGROUP gained 18.9% over 5 days, analyst reports showed.
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