MTN, Seplat and Lafarge lift NGX ASI, up 0.95%

The NGX ASI closed at 1,636.69, up 0.9467%, after a weekly gain of 0.95% through April 30, according to market data and analyst notes. MTN Nigeria led the flow with Q1 service revenue up 41.8% to N1.5 trillion and profit at N546 billion, while shareholders approved a N152 billion fintech stake sale, according to Independent Newspaper Nigeria, Techpoint Africa, The Guardian Nigeria News and Developing Telecoms. Seplat Energy reported Q1 revenue of N1.1 trillion and profit of N509.6 billion, Daily Trust reported. Lafarge Africa also posted a doubling in Q1 profit to N98 billion on strong sales and cost control, according to THISDAYLIVE. Analyst notes showed rotation into telecoms and mid-caps after a 1.5% gain through April 30 despite a 7.1% drop in oil and 40 decliners over the week.