NGX ASI slips 0.50% despite MTN's NGN1.11 trln profit and First HoldCo's 10% jump
The NGX ASI fell 0.50% to 1,808.0 on July 14, despite a 10% jump in First HoldCo on NGN22.26 billion in turnover, according to the July 14 analyst report. The decline extended a weaker run after a 0.37% drop on July 13, even as DANGCEM had surged 8.7% with a 4.3 dividend, according to the July 13 analyst report, following a July 7 session lifted by MTN Nigeria and Dangote Cement that added NGN1.86 trillion in market value, THISDAYLIVE reported. On the corporate front, MTN Nigeria posted NGN1.11 trillion profit after tax for FY 2025 with its share price cited at NGN760, according to Proshare, while Seplat Energy named a chairman-designate and an incoming CEO on July 11, also according to Proshare. In industry, the NNPCL-Seplat Energy JV signed a 15-year gas supply deal with UTM FLNG, according to The Guardian Nigeria News and The Nation, while the Senate approved a proposed $1 billion acquisition of Lafarge Africa by a Chinese company amid questions over 66% ownership, according to LEADERSHIP Newspapers and thestreetjournal.org.
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