Ecobank Ghana records block trading

The Ecobank Ghana recorded a block, which sent the price dipping to end second week trading on the Ghana Stock Exchange (GSE), Nordea Capital Investment Stock Expert analysis indicated. 

Trading therefore ended with ten price changes in an advance to decline ratio of 2:8 as both indices pointed southwards pushing the benchmark GSE-Composite Index to shed 0.5 per cent to close at 3,462.8 points.

The losers for the session were Guinness Ghana Brewery Limited (-3.8 per cent), CAL Bank (-2.6 per cent), GOIL (-2.3 per cent), Societe Generale (-2.1 per cent), Total Ghana (-1.7 per cent), Standard Chartered (-0.3 per cent), Ecobank Ghana (-0.1 per cent) and Fan Milk Limited (-0.1 per cent).

The gainers for the session were Unilever (+3.3 per cent) and GCB (+0.2 per cent).

A total of 547,453 shares exchanged hands and these were valued at GH¢2,612,766.00.

The Nordea Income Growth Fund was priced at GH¢0.4953 with a year-to-date return of 22.54 per cent.

On the inter-bank market, the Cedi shed by 0.03 per cent against the US Dollar at GH¢4.4120, fell by 0.3 per cent against the Euro at GH¢5.2443 and rose  0.5 per cent against the Pound at GH¢5.9520.

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.

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

Source: GNA

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