GSE Financial Stock Index slips downward

The Ghana Stock Exchange (GSE) Financial Stock Index lost 0.5 per cent to close trading on Tuesday’ session at 3,130.9 points thereby forcing the Composite Index also to slip downward by 0.5 per cent to close at 3,407.3 points.

Activities however improved over the previous session as losses were registered in seven counters; the losers were Produce Buying Company (-25 per cent), Societe Generale (-2.6 per cent), and Standard Chartered (-2.1 per cent).

The other losers according to Nordea Capital Investment Stock Market Expect analysis made available to the Ghana News Agency in Accra on Wednesday were, Enterprise Group Limited (-1.7 per cent), CAL Bank (-1.7 per cent), GOIL (-0.7 per cent) and Fan Milk Limited (-0.5 per cent).

According to the Nordea Capital Stock Market watchers, gains were also recorded in Aluworks (+12.5 per cent), Ecobank Transnational Incorporated (+4.5 per cent) and GCB Bank (+1.1 per cent).

A total of 597,740 shares were traded which were valued at GH¢2,007,117.78.

The Nordea Income Growth Fund was priced at GH¢0.4914 with a year-to-date return of 21.57 per cent.

On the Inter-Bank market, the Ghana Cedi shed 0.02 per cent against the USD at GH¢4.4138, gained by 0.9 per cent against the Euro at GH¢5.2336 and rose 0.7 per cent against the Pound at GH¢5.9556.

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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