NGX ASI rises 0.12% as MTN overtakes Zenith on listed-company profit
The NGX ASI closed at 1,546.27, up 0.1224% on April 9, after a 3.61% advance flagged on April 8, according to the provided items. MTN Nigeria overtook Zenith Bank as the country’s most profitable listed company, The Africa Report said, while Zenith Bank and Seplat were among the drivers of the 3.61% rise cited on April 8. Stanbic IBTC stayed in focus through 2 stories on April 8 and April 7, with AD HOC NEWS highlighting the stock and businessday.ng reporting on an Abuja developers roundtable on housing. On the regulatory side, 2 bulletins dated April 9 confirmed the delisting of DN Tyre and Rubber Plc and Greif Nigeria Plc, while Access Holdings featured in 3 notices between April 8 and April 9 on its private placement and an addendum.
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The NGX ASI closed at 1,791.56, down 0.8424% on June 23, while Guinea Insurance jumped 10% despite the broader decline, according to analyst notes. FCMB fell 6.5% to NGN10.15, deepening pressure on bank stocks, after GTCO's 10% gain on June 22 had masked a more fragile market, analysts said. Away from the index, MTN Nigeria vested 129,129 shares worth NGN103.3 million in 6 employees and appointed Bukola Ajayi as CIO, according to TechNext.ng and CIO Africa. In energy, Tony Elumelu was appointed Seplat Energy chairman, according to LEADERSHIP Newspapers, while ARADEL slipped 4.6% over 5 days despite Brent at $77.54, analysts said.