MTN drops 8.6% despite N1.11 trln profit as NGX ASI rises 0.31%
The NGX ASI closed at 1,660.35, up 0.3081% on May 5, while MTN Nigeria fell 8.6% despite reporting N1.11 trillion profit after tax for FY 2025, according to Proshare and analyst notes dated May 5. MTN Nigeria also posted strong Q1 growth, with revenue and profit rising, reports Telecom Review Africa, but the stock’s decline set the tone for the session. Lafarge Africa reached N5.6 trillion in market value after profit surged 101%, according to MarketForces Africa, and proposed a N96.64 billion dividend, westernpost.ng reports. Elsewhere, DANGSUGAR jumped 16.9% in 5 days and NASCON rose 17.8%, while RT Briscoe, McNichols and Zichis each gained 10%, according to analyst notes.
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BUACEMENT fell 17.8% over five sessions, from 414.0 NGN to 340.2 NGN, as the Nigerian market dropped 1.06% on Friday. The pullback leaves the stock at an RSI of 41.81, but valuation still looks demanding at a 32.4 P/E.