NSE LIVE! Equities lose N36b amidst profit-taking

After two positive consecutive trading sessions, Nigerians equities came under sell pressure on Thursday as investors turned round to take profit. With 27 decliners to 19 advancers, the overall market position shifted downward, dropping by N36 billion.

The All Share Index (ASI)-the common value-based index that tracks share prices at the Nigerian Stock Exchange (NSE), declined by 0.29 per cent to close Thursday at 36,517.48 points as against its opening index of 36,622.85 points.

Aggregate market value of all quoted equities at the Exchange dropped from its opening value of N12.675 trillion to close at N12.639 trillion. The decline depressed the average year-to-date return for Nigerian equities to 35.88 per cent.

Most sectoral indices also closed negative. The NSE Insurance Index dropped by 1.2 per cent. The NSE Consumer Goods Index dropped by 1.0 per cent. The NSE Oil & Gas Index dipped by 0.5 per cent while the NSE Banking Index slipped by 0.20 per cent.

The momentum of activities improved with investors staking N4.22 billion on 356.80 million shares in 4,384 deals. United Bank for Africa was the most active stock with a turnover of 90.5 million shares valued at N842.01 million. Fidelity Bank followed with a turnover of 37.07 million shares worth N62.42 million while Custodian and Allied placed third with 35.54 million shares valued at N142.10 million.

Read also: National grid to add 540MW as Mobil Producing Nigeria reaches new deal

Brewers led the decliners. Nigerian Breweries-the second most capitalised quoted company, led the downside with a drop of N6 to close at N155. International Breweries followed with a drop of N2.72 to close at N51.78. Forte Oil dropped by N2.12 to close at N40.30. PZ Cussons Nigeria lost N1 to close at N23. Cement Company of Northern Nigeria dropped by 47 kobo to close at N9.70. Mobil Oil Nigeria declined by 40 kobo to close at N155.60 while Guaranty Trust Bank lost 30 kobo to close at N41.70 per share.

On the upside, Nascon Allied Industries rose by N1.55 to close at N16.77. Presco followed with a gain of N1.50 to close at N66.50. Lafarge Africa added N1.46 to close at N52. Dangote Sugar Refinery rose by N1.28 to close at N15.84. Danfote Flour Mills gathered 76 kobo to close at N8.26 while Guinness Nigeria appreciated by 65 kobo to close at N101 per share.

“Given today (Thursday)’s negative performance, we expect nine-month 2017 releases to continue to dictate market performance in the near term. However, we advise investors stay bullish on stocks with strong fundamentals,” Afrinvest Securities stated.

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5 money moves to make in your 30s

         Some of the basic financial rules stay the same as you get older (i.e., pay off debt and keep saving), but there are some steps that are more important at some some stages than at others.For 30-somethings, it means paying off more debts as your income grows, reevaluating current spending habits, and diving head first into adulthood by updating your insurance coverage.Taking care of these responsibilities is essential to making sure you're on stable financial footing.Below, you'll learn why each one of these steps is important to tackle before you move on to the next stage of life.

• 1. Increase retirement contributions Here's what the median retirement savings amount is for all Americans (hint: it's not great) between 1989 and 2013, which is the latest data available from the Economic Policy Institute (EPI):As you can see, 32- to 37-year-olds had a median savings amount of just $480 in their retirement savings in 2013 (yikes!), and that number was down from $1,123 in 2007. EPI notes that the median savings numbers are so low because nearly half of Americans don't have any retirement account savings at all.These numbers show just how important it is to not just start a retirement savings account, but to keep funding it as well.If you already have a 401(k) at your current job and save a specific percentage of your income then great! But now is the time to slowly raise that percentage. Consider bumping up contributions by 1 percentage point as a first step. If you can handle more that's great, but the point is to start putting more money aside. If you can't swing an increase in contributions right now, then consider doing it the next time your employer gives you a raise.Also, if you're not taking advantage of your employer's matching 401(k) contributions, then start with that first. Make sure you're contributing enough money to your 401(k) to get the full matching amount from your employer. Remember, in 2017 you can max out your retirement contributions at $18,000.If you don't have a 401(k) through your employer, then make sure you've set up an individual retirement account (IRA) for yourself, and that you've automated your contributions.

• 2. If you're not investing, start now Adding to your 401(k) and IRA is one thing, but 30-somethings shouldn't overlook investing their money in other ways as well.Investing in stocks can be a great choice, but if you're not into picking individual stocks then selecting a low-cost (and low maintenance) index fund is also a good choice. A Vanguard 500 Index Fund has an expense ratio of just 0.14%, and the company's overall index fund expense ratios are 71% lower than industry averages.This fund tries to match the returns of the S&P 500, and has historically achieved annual returns of about 10%.In short, you'll be well diversified right from the start, and the low expense ratio means that the vast majority of your gains can go straight back into reinvesting in the fund -- instead of a fund manager's pocket.

   

• 3. Evaluate your insurance needs This one isn't all that exciting, but it's still very important. If you've gotten married, had kids, bought a house, or made any other major changes in your 30s, you should take a good look at your insurance needs and make sure you have the proper coverage.For example, if you don't have any life insurance then buying a good, inexpensive,term life insurance policy is a smart way to ensure that your family receives money for a mortgage, your family's living expenses, etc. if you die. There are lots of different options for these based on what your payout amount would be and how long you want the term to last for. The most important part, however, is just making sure that you have a policy in place.It's also smart to look into other types of insurance you may need as well, such as disability insurance, an umbrella policy to extend your renter's insurance or homeowner's policy, and health insurance. Just remember not to overspend on insurance you don't need.

• 4. Re-evaluate your budget and pay off debt You may still be spending money in the same carefree way you did when you were in college, but your financial responsibilities are likely to grow in your 30s. That's why it's a good time to reevaluate your spending habits.I occasionally go through my own finances to see if there are any services I'm paying for that I don't really use, or places I'm spending too much money and need to cut back on. The idea isn't just to trim the fat, but to also take that money you're spending and apply it to any existing debt, like student loans.According to the latest data (from 2015), 30-somethings account for a larger amount of student loan debt than any other age demographic, with $408 billion owed.If that's you, or if you've racked up credit card debt, then it may be time to take a look at your budget and how you can reallocate some of your spending to paying off debt.

• 5. Add more to your emergency fund and savings account And the last but certainly not the least money move you should make in your 30s is to make sure you're properly funding your savings account. According to a recent Go Banking Rates survey, more than half of Americans have less than $1,000 in savings, and this includes many people in their 30s.A good goal to shoot for if you have little-to-no savings is get your account to $2,000. That's the amount the Federal Reserve Bank of New York says it will take to overcome an average-size financial emergency. That is, of course, just a starting point. Ideally, you want to have enough in savings so that you can cover three to six months of living expenses in case you lose your job. But don't be overwhelmed with getting to that point. The best way to increase your savings without thinking about it is to set up automatic monthly withdrawals from your checking account to your savings account. This will help you jump start the savings process and keep it on autopilot as your build up your account. Some final thoughts Getting older usually comes with more responsibilities, and that includes setting personal financial goals. It's easy to feel overwhelmed about getting your finances in order, but just remember that any steps you can take to save more, spend less, and pay off debt will help you achieve your goals. If reading through all of these money moves make you nervous, then start tackling one of them and focus on that first and then move onto the next step. Any progress is better than none.

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12 criteria for starting a successful business, if you want to get rich

Starting your own business sounds good and great. But what is the ideal set up for a company?

Founders of a company often make decisions that determines the ultimate success or failure of an enterprise. However, a few decades ago investment strategist Richard Russell already listed twelve criteria for the "ideal business model".

If you consider starting a new business (or know someone who wants to do that), consider the list below carefully. You’ll find out meeting all twelve criteria is extremely difficult. yes' The suggestion therefore would be to meet as many criteria as possible of the 'ideal business model'.

Of course, whatever business model you choose, the first years require hard work and perseverance. But by electing a strong business model, your chances of success increase considerably.

For many young people in search of jobs, starting your own business should be considered as a serious alternative.

These are the 12 criteria:

1) The ideal business does not only sell to a local community, but have an unlimited global market .

(2) The product of the ideal business is characterized by an "inelastic" demand. People want your product so badly, they are prepared to pay high prices.

(3)Moreover, the product can’t be easily substituted or copied.

(4) The labour input for the ideal business is limited. So, basically you have an office with executives. Production, marketing and distribution are all done by other companies.

(5) The overhead cost of the ideal business is low. It does not depend on an expensive location, large amounts of energy input, expensive employees or a large inventory.

6) The ideal business has no need for large investments in equipment. Therefore capital is not tied up in the business.

7)Cash generation is strong, so your company does not depend to much on credit arrangements.

8) Government regulation is not interfering with your business a lot.

(9) The ideal business can be moved easily to other locations.

(10)The ideal business inspires you intellectually and makes you happy.

(11)The business leaves you with free time. Ideally, it allows you to spend time improving the company, rather than being a person working in the company.

(12)Last but not least: your income is not limited to your personal output, a problem hairdressers have for example. On the contrary, selling to one person or a million customers basically makes no difference for the ideal business.

Source: https://amp.pulse.ng/bi/strategy/12-criteria-for-starting-a-business-if-you-want-to-get-rich-id7392930.html

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