NGX down 0.77% despite major recycling partnership
The NGX ASI closed at 1471.75 points, down 0.77% according to market data. Nigerian Breweries acquired a 29% stake in a plastic recycling project in Ogun, reports Punch Newspapers, partnering with Indorama and Genesis Energy to develop the largest rPET production facilities. Demand for BUA Cement nonetheless added 649 billion naira in market valuation, according to THISDAYLIVE. This decline follows recent volatility, with the index falling 2.36% on Wednesday after a 2.79% gain on Tuesday.
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NGX ASI rises 1.36% as MTN Nigeria and Seplat lead headlines
The NGX ASI closed up 1.358% at 1,815.89 on June 24, after a 0.84% decline on June 23, according to market data and analyst notes. MTN Nigeria drove 3 headlines in 3 days, committing to IFRS S1 and S2 compliance, vesting 129,129 shares worth NGN103.3 million to 6 employees, and appointing Bukola Ajayi as CIO, according to Tribune Online, TechNext.ng and CIO Africa. Seplat Energy also drew focus with Tony Elumelu's appointment as chairman, LEADERSHIP Newspapers reported. Analyst notes showed FTN Cocoa jumping 8.4% with cocoa at $4,986, while cement names fell 10%, underscoring a session shaped by sharp sector divergence.
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