The Nigerian Stock Exchange market posted gains at the end of the trading session today. The All-Share Index increased by +0.29% to close at 39,128.34 from 39,015.58 index points. CONOIL topped the gainers list.

• Nigerian Stock Exchange market value currently stands at NGN 20.48Tr. Its Year-to-Date (YTD) returns currently stands at – 84%.
• The market closed in profit as CONOIL led 21 Gainers and GUINNESS topped the chart of 22 Losers with a noticeable bullish movement by the NSE ASI.

Top gainers

1. CONOIL up +9.97% to close at N18.75
2. STUDPRESS up +9.88% to close at N1.78
3. ETERNA up +9.48% to close at N6.35
4. UPL up +9.40% to close at N1.28
5. WAPCO up +6.83% to close at N21.90

Top losers

1. GUINNESS down -9.89% to close at N28.70
2. PORTPAINT down -9.85% to close at N2.38
3. ACADEMY down -8.26% to close at N0.37
4. LEARNAFRCA down -8.26% to close at N1.00
5. REGALINS down -7.41% to close at N0.25

Outlook

The NSE ASI saw a bullish move supporting Tuesday gains and showing bullish dominance since the start of the week.  However, the following stocks are on our watchlist: PZ, Guaranty, Access bank, STANBIC, HONYFLOUR, GUINNESS and Flourmills.

• Nairametrics advises cautious participation in the stock market in this era of growing uncertainties.

The European Super League Initiative advanced by a few football executives met stiff resistance from passionate football fans around the world.

The Initiative was previously backed by Arsenal, Manchester United, Manchester City, Chelsea, Liverpool, Tottenham Hotspur, Real Madrid, Barcelona, Atletico Madrid, Juventus, AC Milan, and Inter Milan. Six English clubs withdrew on Tuesday. Inter Milan and Atletico Madrid followed suit and AC Milan has said they would as well.

The drama stirred up by this recent development has led football fans to review the ownership of their clubs. Arsenal, which was one of the initial supporters of the initiative has witnessed the most reactions from the fans.

Kroenke vs Arsenal fans

Stan Kroenke has remained unpopular amongst arsenal fans for a long while. Their reasons boil down to two things:
1. Poor investment in the Club’s first team
2. The recent European Super League attempt.

Arsenal fans have taken to Twitter to voice out their disapproval and discontentment with the club’s owner Stan Kroenke. The latest European Super League attempt seems to be the last straw for the angry fans.

Kroenke out, Dangote in

The pulling out of the six English teams from the now ill-fated European Super League has led to some executives resigning from their clubs. Manchester United’s Ed Woodward resigned from his position, Andrea Agnelli is understood to have also left Juventus following his role as Head of the European Club Association.

This announcement renewed resignation calls by Arsenal fans who desperately want the current owner of the club out by all means. The fans reverted to an old Bloomberg interview where Nigeria’s richest man, Alhaji Dangote confirmed his interest in buying the London club.

They begged the business magnate to make his move now as this is the perfect time to buy the club from Stan Kroenke. Alhaji Dangote is $3.3bn richer than Mr Stanley Kroenke by Forbes Statistics.

The #Dangote trended on both London and Nigeria twitter space this morning.

What you should know

• Enos Stanley Kroenke is an American billionaire businessman. He is the owner of Kroenke Sports & Entertainment, which is the holding company of English football club Arsenal F.C. He is worth 8.2bn according to Forbes.
• Stanley Kroenke believed that the European Super League initiative will make Arsenal the biggest club in the world.
• Liverpool owner, John W. Henry has issued an apology to Liverpool fans worldwide on the European Super League attempt. Other clubs have also put out apology and withdrawal statements.