market

In November 2024, an empty field suddenly turned into a bustling scene. Women streamed in carrying baskets of tomatoes, while others unwrapped sacks of oranges. At the time, teenage girls hawked in the crowd with trays of boiled groundnuts balanced on their heads. Along the roadside, two trailers lined up a few metres away as young men tossed heavy sacks of maize into one and rice into the other.

This was the Tumba Ra Ngabili market.

For a trader like Asmau Abubakar, she never imagined a market like this could exist, especially when she reflects on the years when the Boko Haram insurgency was at its peak. She says her fear grew the first time she heard the insurgents had arrived in Madagali in 2014, a few towns away from Michika, her hometown, both in Adamawa State, northeastern Nigeria.

When rumours spread at the time that the insurgents would not harm women, Asmau urged her husband to flee while she stayed behind with the children. But he refused, insisting the family remain together.

Then came the news that the insurgents were unleashing violence in Gulak. And knowing Gulak was close, Asmau’s family fled to Uba, a neighbouring town, where they passed the night before returning home the next morning.

But the fear never left Asmau. Soon again, word spread that Michika itself would be attacked on a Sunday.

“Before they came, on that Sunday at dawn, my husband got us a car that took us to Yola [the Adamawa State capital] while he fled on foot, passing several villages to reach Gombi,” Asmau recalled. “We were at Mararraban Mubi when I heard the insurgents had entered Michika.”

Many families, like Asmau’s, fled for safety. But that Sunday in September 2014 carried the memory of gunfire echoing in the air, houses burning in flames, and, of course, the lives taken in cold blood. The insurgents did not only stop at attacking Michika, they in fact seized the town and spread into nearby villages, inflicting fear and hardship on the locals. It was a period when they were expanding across northeastern Nigeria in their bid to carve out an Islamic caliphate.

Boko Haram’s violent campaign had started five years earlier in 2009, first as an uprising in Maiduguri, the Borno State capital, before spreading across the region. In its wake, families mourned their loved ones, schools and markets were left destroyed, and dozens of communities were turned to ruins, with over a million people uprooted from their homes.

Michika was soon trapped in this same cycle of bloodshed and chaos that forced people across Borno, Adamawa, and Yobe to live with fear as part of daily life. Meanwhile, the insurgents held the town captive for months until January 2015, when Nigeria’s military finally drove them out. So, as locals began to return, they discovered that what awaited them were wrecked houses and the loss of nearly everything they owned.

“The walls of my house were riddled with bullets,” Asmau told HumAngle. “They destroyed doors and windows and looted some of our belongings.”

Even as Asmau and other families in Michika began to rebuild and piece their lives back together, they realised that the insurgency had sown deep distrust between Christians and Muslims. The divide between the two faiths grew so intense that, according to locals HumAngle spoke with, it spread into the main Michika market, where Christians chose Saturdays to sell their farm produce and Muslims traded on Sundays when most Christians were in church.

Asmau has not forgetten that period when she moved between the main Michika market and those in Bazza and Lassa to buy and sell bags of maize, beans, and groundnuts.

“Relations between us Muslims and the Christians became strained,” she explained. “They thought the majority of Muslims were Boko Haram.”

HumAngle also learned that, at the time, Muslims said their children could not have relationships with children from Christian families, and Christians equally insisted their children would not relate to Muslim families.

Rebuilding Trust

This situation persisted in Tumba Ra Ngabili, Asmau’s community, until 2020, when the British Council, in partnership with the Women and Youth Economic Advancement and Health Initiative (WYEAHI), brought women from the area into its Managing Conflict in Nigeria (MCN) programme.

About 200 women from Christian and Muslim households received training in peacebuilding, conflict management, and Early Warning and Early Response (EWER).

“We learned that due to the insurgency, these women lost their livelihoods. So we felt it would be good that after the training, we should also empower them,” said Aishatu Margima, WYEAHI’s Executive Director.

The women were organised into groups of 20, with each member receiving ₦30,000 to start a business or support an existing one.

“I was happy when my name made it to the list of women selected for the training and even more when I got empowered with ₦30,000,” shared Asmau, recalling it was a time when her business was struggling due to low capital and disruptions from the COVID-19 pandemic, which restricted movements and closed markets.

The micro-funding and training also transformed Christiana Emma’s life. She had lived in Tumba Ra Ngabili for 20 years and fled to Yola only when the insurgency struck. Though she lost her house and belongings, she returned after Michika was liberated because the feeling that it was her home did not leave her.

“We started rebuilding with my husband through the grace of God, and to support him, I was selling tomatoes, bananas, and oranges,” Christiana said. She would travel to Besso and Kirchinga villages in Michika and Madagali to collect goods on loan, sell them, repay the loan, and keep the profit.

“The ₦30,000 I got helped me grow my business. I later built a capital of ₦150,000 that allows me to buy goods upfront without taking loans,” she noted. “Today, the proceeds help me cover my family’s bills, from education to feeding and healthcare.”

Restoring peace through trade

In their 20-member group, 16 were Christians and 4 were Muslims. The training enlightened them on love and peaceful coexistence.

The group began holding weekly meetings every Sunday to strengthen relationships and discuss business challenges. And in one of those meetings, they decided to establish a market in Tumba Ra Ngabili.

The women approached the community chief, Lawan Yakubu, who, after consulting with his council members, approved their request and allocated land a few metres from his house for the market.

They believed the local market would make it easier to run their businesses and improve their earnings without the need to travel to nearby villages or the main Michika market. At the same time, they wanted the market to serve as a space for unity where people from all faiths could trade freely.

At first, the women traded in an open field until the Danish Refugee Council, an international humanitarian organisation, while implementing a different project in the community, learned about the market and decided to support and expand the women’s efforts by constructing a block of 16 roofed tents where traders could display their goods.

In the two years since it opened, the Tumba Ra Ngabili market has transformed both business and relationships in the community, especially with Christian and Muslim women trading side by side.

Blessing John, a widow and member of the group who now sells Gwanjo (second-hand clothes), remembers how isolated she once felt and how difficult it was to keep her business running or get help when challenges came.

“Now, I know I can turn to any member of the group, whether at the market or at home, whether a Christian or a Muslim, and get support,” said the 40-something-year-old mother of eight.

Blessing explained that to make it convenient for everyone, the women agreed that the market would mainly operate on Sundays immediately after morning church services. 

“The market also opens on Wednesdays, but Sunday has become the main trading day,” she told HumAngle.

Traders troop into the market, mostly during the harvest period, to buy bags of food crops ranging from maize, rice, beans, groundnuts, and even tomatoes, which are then transported in big lorries to Mubi, Maiduguri, and other parts of the country.

Each trader at the market pays ₦50 to the local government as tax on every market day.

Saving together

The women have also started an Adashe (savings pool) system. Every Sunday evening, after trading, they gather to repeat sessions on “maintaining peaceful coexistence with one another,” and each member contributes ₦1,000. 

The collected ₦20,000 is kept in a wooden box made by a local carpenter. The box has four keys, each held by a team of four members, and it can only be opened when all group members are present. If a member is sick or unavoidably absent, a representative from her family or relations can stand in to ensure the box can be opened.

After collecting the contributions, any member needing a loan can borrow from the pool and repay it with 10 per cent interest within a month. For example, if a member borrows ₦10,000, she will repay ₦11,000. In the early days of the system, Asmau often borrowed from the pool to strengthen her business capital.

“It helps me make more profit since the capital is much larger when I combine my initial empowerment money with the loaned amount,” Asmau said. From the profit, she buys foodstuffs each market day and contributes to the savings pool.

“I have children and pay their school fees with a part of the profit,” she added.

When no one needs a loan, the wooden box is locked and kept by the group’s treasurer, Manga Musa, who shared that the group also has a social fund, to which each member deposits ₦50 weekly.

“It’s the savings we use in case any of us gets sick. We can then support the person without asking for repayment,” she said.

And by December each year, a week before Christmas, the group gathers to share all the money in the savings pool before taking a break and returning in January for the new year. 

“We buy Christmas food and clothes for our children in December after sharing the earnings,” noted Christiana. “For Muslims, during their festive seasons, if they need to borrow money from the pool, we give it to them.”

The struggle to thrive

However, despite their success stories, some challenges raise questions about how sustainable the women’s efforts are without institutionalised support. 

During the rainy season, the market does not come alive like it does in the dry months. When HumAngle visited on a Wednesday, the tents were empty. And even on Sunday, the main market day, only a few items, such as vegetables, fruits, and small household goods, were on display. There were no food crops. 

Locals told HumAngle that this is because most traders are occupied with farming at this time of the year and do not come to the market as often.

Last year, the community suffered a flood, and most traders whose farmlands were flooded did not harvest many food crops that could be brought to the market.

Still, the poor roads leading to Tumba Ra Ngabili, along with a river that traders from distant villages must cross, also limit the amount of produce that reaches the market.

On the other hand, Blessing admitted that business has slowed in recent months. “People focus more on looking for what to eat than buying clothes,” she explained.

Manga said the women’s savings pool is directly tied to market activity. When sales drop, some members struggle to make their weekly contributions, which sometimes delays their cycle of lending and repayment.

Even with the gaps, Blessing dreams of opening a shop to stock clothes instead of pushing them around in a wheelbarrow. Others hope to see the Tumba Ra Ngabili market upgraded into a standard marketplace with proper shops and storage facilities. 

Together, the women want their savings pool to grow strong enough to sustain members and extend support to other women in the community.

Now, what remains uncertain is whether the peace they have built can withstand the challenges that still surround them.

This story was produced under the HumAngle Foundation’s Advancing Peace and Security through Journalism project, supported by the National Endowment for Democracy (NED).

Is past and present stock market performance a good predictor of how the market will perform in the future? It can be sometimes. Otherwise, no one would bother incorporating historical stock data into models that attempt to project future performance.

With that in mind, investors might want to pay attention to what’s going on now with the S&P 500 (^GSPC 1.56%) in relation to what it’s done in years past. The benchmark index is poised to do something that’s only happened 11 times in 100 years. And it could signal a big move for the stock market in 2026.

Image source: Getty Images.

The third time’s the charm

The S&P 500 soared 26% in 2023. It followed with a 25% gain in 2024. As of the market close on Oct. 10, 2025, the S&P is up a little over 11%. As things stand right now, it’s on course to finish the year with a double-digit percentage gain for the third consecutive year.

Such an achievement is rarer than you might think. Over the last 100 years, the S&P 500 has delivered double-digit returns for three consecutive years only 11 times. Technically, the index has only existed in its current form, including 500 companies, for 68 years. However, the S&P 500’s predecessor — the S&P 90 — dates back to 1926.

Granted, the stock market could end 2025 on a negative note. President Trump’s latest threat of additional 100% tariffs on all Chinese imports, on top of 30% tariffs already in place, is causing significant angst among investors.

It doesn’t help matters that the S&P 500 has been trading at record highs. The Buffett indicator, a ratio of total U.S. stock market capitalization to GDP, is well above a level that its namesake, legendary investor Warren Buffett, has said was “playing with fire.”

However, even if the S&P 500 falls over the next few weeks, a rebound to get the index back into double-digit gain territory would still be quite possible. Stocks often enjoy momentum at the end of a year thanks to a phenomenon known as the Santa Claus rally.

A history of big moves following three double-digit years

What could a third consecutive year of double-digit gains for the S&P 500 potentially mean for stocks in 2026? History shows that big moves often follow.

In three of the 11 cases over the last 100 years where the S&P jumped by double digits for three years in a row, the trend soon came to an abrupt end. For example, the S&P 500’s predecessor began with a bang in 1926, racking up three back-to-back double-digit returns. However, any student of history knows what happened in 1929: The stock market crash in October of that year brought a screeching halt to the previous momentum. The S&P finished the year down 8% and continued to decline for the next three years.

More recently, the index generated strong double-digit returns in 2019, 2020, and 2021. But the S&P 500 plunged 18% in 2022 as the Federal Reserve cranked up interest rates.

In four of the 11 cases, though, the strong momentum extended into a fourth year. The first occurrence came during World War II. The S&P soared 20% in 1942, followed by a gain of nearly 26% in 1943 and a 36% jump in 1944. The best was yet to come, with the index skyrocketing 36% in 1945 as the war ended.

Another great example of a three-year streak continuing into a fourth year was during the heady dot-com boom of the 1990s. The S&P 500 delivered returns of 22% or more in 1995, 1996, and 1997. It slowed only slightly in 1998, with a nice gain of 21%.

^SPX data by YCharts

How will the S&P 500 perform in 2026?

History shows that big moves are common after three consecutive years of double-digit gains by the S&P 500. Unfortunately, stocks tumble nearly as often as they jump in the following year. How will the S&P 500 perform in 2026? It’s impossible to know for sure.

What is possible to know, though, is that the S&P 500 has always risen over the long term in the past. The Rolling Stones weren’t talking about the stock market when they sang “Time Is on My Side,” but their premise definitely applies to investing. Regardless of what the S&P 500 does next year, investors who maintain a long-term perspective are likely to make money.

A remote island in Scotland is up for sale, and it’s costing less than a standard flat in Edinburgh as potential buyers can buy the remote land for the perfect escape

If you’ve ever dreamt of owning your own private island you may be in luck – as there is one for sale just off the coast of the UK.

The remote island located in the Outer Hebrides and is cheaper than a flat in Edinburgh. Gasker Island is approximately 71 acres and is up for sale for offers over £120,000.

The land has a stunning rocky coastline, grassland and numerous fresh water lakes and even a seal colony. It also offers panoramic views across Harris, Scarp, and Taransay and provides a stunning and unique vantage point within the Hebridean seascape.

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It’s perfect for those looking for a little peace and quiet, situated to the west of South Harris and northwest of the Isle of Taransay. However there is only one property on the island, a small unmanned lighthouse.

The lighthouse is owned and maintained by the Northern Lighthouse Board, the general lighthouse authority for Scotland and the Isle of Man. It’s also a haven for birdlife and diverse wildlife, it offers a rare environment of outstanding ecological value.

It’s five miles from the nearest inhabited island and 75 miles from any train station, but is still pretty hard to get to – as tide conditions can make it tricky to access. Landing can be achieved by small craft in one of two sheltered bays, subject to tide conditions, at Geo lar to the north or Geodha Ear to the south.

On the market with Galbraith, who are managing the sale, they say there are no services or dwellings present on the island, but there may be scope for a modest cabin or hut subject to the necessary planning permission.

The company advertised the island saying there is potential for it to become ‘a truly unique retreat’. The management company say Harris is the southern and more mountainous part of Lewis and Harris, the largest island in the Outer Hebrides.

It’s known for sandy beaches like Luskentyre and Scarista on the west coast, and for rugged mountains in the north. Harris is also the original home of the world famous Harris Tweed – luxury handwoven cloth.

Claire Acheson, handling the sale on behalf of Galbraith, said: “This is an exceptional opportunity to secure a private island in one of the most dramatic and unspoilt settings in the British Isles.

“Gasker offers not only breathtaking scenery and wildlife, but also the potential for a truly unique retreat.”

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Ford (F -0.65%) impressed investors when it reported that U.S. unit sales jumped 8.2% year over year in the third quarter (ended Sept. 30). Key models are doing very well, like the F-Series pickup trucks, Mustang Mach-E, Expedition, and Bronco. The momentum is partly why shares have done well this year, rising 15% (as of Oct.10).

But can this auto stock beat the market for buy-and-hold investors? History provides a clear answer.

Image source: Getty Images.

Investors shouldn’t expect outsized long-term returns from Ford

In the past 10- and 20-year periods, Ford shares have generated total returns of 33% and 150%, respectively. These gains failed to exceed that of the S&P 500 index. And it’s not even close.

The disappointing performance likely won’t reverse course as we look to the next 10 or 20 years. Low growth, weak margins, huge capital expenditures, and cyclicality describe Ford’s business. It’s not controversial to say that this isn’t a high-quality company.

Ford shares might always trade at a cheap valuation

Ford’s valuation is dirt cheap. The market is offering the stock at a forward price-to-earnings ratio of 9, which makes the dividend yield hefty at 5.26%. This might look like a compelling opportunity.

However, there’s no reason to assume that the market will expand Ford’s valuation in the years ahead. Fast growth, wide margins, capital-light business models, and durable demand trends are traits that investors reward. Ford just doesn’t fit the bill.

Vilnius, the capital of Lithuania, has been named European Christmas Capital 2025 – and it’s easy to see why. The city has a stunning Christmas market and barely any crowds.

If you’re dreaming of a festive getaway complete with Christmas markets and cosy eateries, but can’t bear the thought of battling through crowds, then some destinations are off the table.

For instance, Paris, despite its charm and beauty, welcomed 22 million tourists last year, while Vienna, another popular winter destination, saw an astonishing 19 million visitors.

Over tourism can turn a holiday into a stressful experience, particularly during the festive season when all you want to do is unwind.

However, there’s one stunning European city that remains relatively crowd-free – and it boasts an award-winning Christmas market.

Lithuania’s capital, Vilnius, attracted just 1.2 million tourists last year – a mere fraction compared to Europe’s busiest hotspots.

With the holiday season fast approaching, now is the ideal time to consider a trip to this extraordinary city.

Vilnius has been crowned European Christmas Capital 2025 by the Christmas Cities Network, backed by the European Parliament.

It offers a spectacular Christmas tree, a UNESCO-listed Old Town, and of course, markets brimming with mulled wine and handmade crafts, reports the Express.

The holiday season in Vilnius kicks off on 29 November with its most eagerly awaited tradition, the lighting of the Christmas Tree in Cathedral Square.

Each year, the tree showcases a fresh bold design, drawing people to the city to celebrate with their loved ones.

If you fancy being there for the big switch-on, Skyscanner is currently offering return flights from London to Vilnius starting at just £42 – arriving on 29th November and departing on 1st December.

As for digs, prices kick off from a mere £21 per night, making it an ideal budget-friendly getaway – just remember to save some suitcase space for all those pressies.

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Rare earth stocks climbed in the US after Beijing tightened its control over these critical materials, used in the vast majority of electronic devices, from smartphones and cars to ballistic missiles.

Across the Atlantic, European markets opened in a mixed mood while the Middle East peace deal progresses, brokered by US President Donald Trump.

With investors also watching political uncertainty in France, the pan-European STOXX 600 was up around 0.1% at 11.45 CEST, and Paris’ CAC 40 also gained 0.1%.

Frankfurt’s DAX and London’s FTSE 100 both slipped 0.1%, after an earlier rise for the DAX.

“The FTSE 100 was stuck in the mud as the rest of Europe ploughed ahead at the end of the trading week,” said Russ Mould, investment director at AJ Bell.

“Strength in consumer stocks and utilities was offset by weakness in miners and healthcare,” he said — adding: “it was also notable that defence stocks were being sold down, including Babcock, which has rocketed this year.”

In other news, oil prices were down on Friday morning. The US benchmark crude cost around 0.4% less than at the previous close, and traded at $61.26 per barrel at around 11.45 CEST. The international benchmark Brent lost 0.49% and cost $64.90 per barrel at the same time.

Gold prices also rose after hitting new records recently, trading at $4,018.00 on Friday morning in Europe.

US futures were up slightly, the euro gained against the dollar at $1.1575, and the greenback slipped against the Japanese yen, to ¥152.7950. The British pound also fell against the dollar and cost $1.3290.

Rare earths companies gained overseas

As mining stocks led losses in Europe on Friday amid developments in Beijing, the STOXX Europe Basic Resources index shed 0.78%.

This follows a rally in the US, where rare earth stocks rose considerably after China announced that it would tighten control over its exports of these materials.

The country is dominating the market for rare earths. The world’s second-largest economy accounts for 70% of the global supply of these assets that are hugely significant for defence and technological infrastructure.

Following the news, investors in the US placed their hopes on American alternatives. US rare earth and critical mineral miners’ share prices surged on Thursday, partially due to market speculation that Washington will invest more in building out a domestic supply chain.

Many of these companies have seen their prices increase for months now, with several doubling or tripling since the beginning of the year.

USA Rare Earth Inc., a firm building a domestic rare earth magnet supply chain, gained nearly 15% on Thursday. Since January, it has risen 151%.

MP Materials Corp, an American rare-earth materials company headquartered in Las Vegas, Nevada, also gained more than 2.4% on Thursday, while it is up 341% since January.

Another company, Denver-based Energy Fuels Inc., gained 9.4%, bring its year-to-date rise to 284%.

NioCorp Developments, which benefits from Pentagon support, gained more than 12%, Rare Element Resources Ltd gained more than 10%, and Texas Mineral Resources Corp. gained 9.6% on Thursday.

Meanwhile, Australian rare-earth mining company Lynas Rare Earths lost nearly 3.8% in the Asian trade, and Australia’s Iluka Resources lost 3.22%.

Chinese Shenghe Resources, a partly state-owned rare earths mining and processing company listed on the Shanghai stock exchange, lost 5%.

Beijing’s measures mean that companies need to apply for a licence to export products containing certain Chinese-sourced rare earth metals.