Headlines – First Ideas Limited

Headlines

Investors Gain N54.02bn WoW as NGXASI Inches up by 0.25% to Close the Week Positive

Equities market closed on a positive note, as NGXASI appreciated by +0.46% to close at 43,308.29 basis points as against  -0.32% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.54%.         

Market breadth closed negative as ABCTRANS led 18 Gainers as against 22 Losers topped by UPDCREIT at the end of today’s session – an improved performance when compared with previous outlook.  

Market turnover closes positive as volume moved up  by +14.73% as against +9.43% uptick recorded in the previous session. FCMB, GUARANTY, and ACCESS were the most active to boost market turnover.  GUARANTY and NESTLE topped market value list.

PRESTIGE leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

Export by air up 53% on demand for staples

Demand for staple foods such as yams, palm oil, vegetables, garri (cassava flour), dried fish, local food seasonings (iru/ogiri), among other items, in Europe, America and other parts of the world has seen exports by air rise 53 percent in the last 10 months.

Nembe oil leak: Local incapacity worsens spills

The oil spill at the Santa Barbara oil field, OML 29, located in Nembe Local Government Area of Bayelsa State, has gone uncontained after three weeks because Nigeria lacks the capacity, the head of the government agency combating oil leaks has said.

Ties with global firms seen unlocking Nigeria’s pharma opportunities

Prospects of Nigeria’s pharmaceutical industry in attaining self-sufficiency could be realised if local producers build strong and productive synergy with leading global producers looking to expand frontiers, experts have said.

 

MTN’s share sale oversubscribed as investors eye value

MTN’s sale of shares in its Nigerian unit to institutional investors has closed Friday with the telecommunication company recording an oversubscription for the shares offered, according to sources familiar with the transaction.

COVID-19: New variant of concern detected in South Africa, Botswana

Scientists in South Africa on Thursday detected a new Covid-19 variant with concerns that it has a “very unusual constellation” of mutations that could possibly cause the virus to evade immunity. The number of daily infections in South Africa, Africa’s hardest-hit country has increased tenfol

High inflation, forex crisis to deter investments into Nigeria

If Nigeria’s high inflation and lingering foreign exchange crisis are not contained, investors’ appetite for the most populous nation in Africa could shrink further as the country’s much-need investment can be re-directed to other markets.

Mining revenue to hit N8bn December, revival efforts intensify – Adegbite

Olamilekan Adegbite, Nigeria’s minister of Mines and Steel Development has revealed that revenue from Nigeria’s mining sector is expected to hit N8 billion by December 2021 as the ministry intensifies efforts to develop the industr

Lagos 40mt LPG plant to supply 20,000 homes- Sanwo-Olu

The newly inaugurated 40 metric tons Liquefied Petroleum Gas (LPG) refill plant will supply cooking gas to at least 20,000 homes in Lagos, Governor Babajide Sanwo-Olu has said.Sanwo-Olu inaugurated the gas plant located in the Ikorod

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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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