Headlines news for the day.

Investors Gain N141.63bn as NSEASI Inches Up Further by 0.69%, Maintains Positive Posture
Equities market closed today on a positive note, as NSEASI appreciated by +0.69% to close at 39,448.46 basis points as against +1.58% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.04%.

Market breadth closed positive as PHARMDEKO led 19 Gainers as against 14 Losers topped by FTNCOCOA at the end of today’s session – an improved performance when compared with previous outlook.

Market turnover closes negative as volume moved down by -61.77% as against +143.41% uptick recorded in the previous session. TRANSCORP, ETI and FCMB were the most active to boost market turnover. MTNN and AIRTELAFRI topped market value list.

PRESTIGE leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
Nigerians withdraw nearly 50% pension contribution in last five years
For every N1000 Nigerians contributed to their pension fund in the last five years, they withdrew about N500, a reflection of Nigeria’s heightened unemployment rate and the retirement crisis that beckon among the citizens of Africa’s top crude producing nation
Investors hunt for winners in Africa’s booming ride-hailing market
Ride-hailing business in Africa is not only keeping the lights up in 60 companies across 21 countries, but also becoming a net employer of labour and helping thousands of individuals put food on the table. An Uber spokesperson says the company, with the largest share of the market, employs 59,000 drivers in Africa

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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