NGX ASI rises 0.73% after MTNN's 10% drop and Prestige's 10% jump
The NGX ASI rose 0.729% to 1,826.72 on June 30, after the previous session saw 36 decliners, a 9.2% jump in UPDC and a 10% drop in MTNN, according to analyst reports. MTN Nigeria stayed in focus with insider share purchases worth 921.8 million naira across 5 tranches, TechNext.ng reported, while Tribune Online said the company committed to IFRS S1 and S2 compliance. Seplat Energy generated 3 headlines with the appointment of Elumelu as chairman and Okon as CEO, plans centered on gas growth and production expansion, and an energy and dividend company of the year award, according to THISDAYLIVE and LEADERSHIP Newspapers. On earnings, Stanbic IBTC posted a record 551.7 billion naira profit for 2025 and raised its dividend, according to Marketing Edge, while Prestige Assurance jumped 10% despite weakness in insurers, analyst reports showed.
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NGX ASI rises 0.76% as Stanbic posts ₦551.7 bln and MTNN flags ₦921.8 mln buys
The NGX ASI closed up 0.7567% at 1,813.5 on June 29, after a 1.06% decline reported on June 26, while MTNN fell 10% on the day, according to a June 29 analyst report. MTN Nigeria disclosed insider share acquisitions worth ₦921.8 million across 5 tranches on June 29, after vesting 129,129 shares worth ₦103.3 million to 6 employees on June 22, according to TechNext.ng. Stanbic IBTC posted a record ₦551.7 billion profit for 2025 and raised its dividend, according to Marketing Edge. Seplat Energy issued 3 updates between June 25 and June 28, naming Elumelu chairman and Okon CEO, highlighting gas and production growth, and then winning an energy and dividend company award, according to THISDAYLIVE and LEADERSHIP Newspapers.
Nigerian Exchange — FCMB Falls 4.4% in 5 Days, Valuation Drops to 2.4x Earnings
FCMB Group is in focus after sliding 4.4% over 5 sessions to 9.7 NGN. With an RSI of 29.42, a 2.4x P/E and a 5.67% dividend yield, the stock combines technical pressure with compressed valuation in a tense Nigerian banking sector.