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Guinness Ghana records block trade on stock market

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Guinness Ghana Brewery started third week of March trading on the Ghana Stock Exchange (GSE) with a block trade in its shares, in effect the benchmark GSE-Composite Index edged by 0.04 per cent to close at 1,875.6 points.

The GSE-FSI however shed 0.1 per cent to close at 1,776.8 points whilst volume traded hit 3,659,647 shares, which were valued at GH¢4,745,263.30 Nordea Capital Investment Stock Market analysis made available to the Ghana News Agency in Accra, on Tuesday indicated.

According to Nordea Capital Investment Stock Expert the week (March 13 to 17) opened on a good note as activities were buoyant on the bourse as Unilever Ghana Limited led the gainers for the session, and rose by 1.5 per cent to close at GH¢9.00 per share.

The nation’s foremost indigenous oil marketing company, Ghana Oil Company Limited (GOIL) also continued last week’s positive trend into this week in effect it climbed by 0.8 per cent to GH¢1.20 per share. 

Ecobank Ghana and Standard Chartered edged by 0.1 per cent each to close at GH¢7.18 and GH¢15.34 per share respectively.

On the down side of trading, CAL Bank lost 2.6 per cent to close at GH¢0.75 per share to emerge as the laggard for the session.

Meanwhile analysis of stock market activities for the second of March (7 to 10) indicates that equity investors continue to repose confidence in the Accra bourse as the benchmark GSE-Composite Index gained 0.4 per cent on a week-on-week basis to close at 1,874.8 points. 

This according to Nordea Capital Investment Stock Market watchers represents a year-to-date return of 11 per cent.

Price movements during the period trended on optimistic sentiments as Aluminium manufacturer, Aluworks Ghana Limited led the gainers for the week, its stock appreciated by 7.1 per cent to close at GH¢0.15 per share.

CAL Bank advanced by 2.7 per cent to close at GH¢0.77 per share, followed by Standard Chartered which gained 2.2 per cent to close at GH¢15.33 per share and StanChart profit after tax (PAT) for the year 2016 jumped by 239 per cent to GH¢224.5 million.

The GCB Bank Limited rose by 0.4 per cent to close at GH¢4.91 per share whilst the fast moving consumer goods giant, Unilever Ghana Limited edged by 0.1 per cent to close at GH¢8.87 per share.

According to Nordea Capital Investment Stock Market watchers, during the second week of trading Total Petroleum led the laggards as a block traded in its shares sent it dipping by 4.3 per cent to close at GH¢2.20 per share and Societe Generale also lost 1.3 per cent to close at GH¢0.77 per share.

Nordea Capital is an investment bank, licensed by the Securities and Exchange Commission and offers a comprehensive range of services in asset management, research and strategy, corporate finance and private equity to institutional, corporate and private clients.

Nordea Capital is dedicated to growing and preserving client assets and building trust, in partnership with financial professionals and institutions worldwide.

The GSE is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990.

It currently lists 42 equities from 37 companies and two corporate bonds. All types of securities can be listed.

Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency.

Source: GNA

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