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Bearish sentiments dominate stock market activities


Investor confidence faltered as they bid down equities on the Ghana Stock Exchange (GSE) during the second week of May (7-11) transactions on Accra bourse, even  though activities was brisk compared to the  first week’s numbers.

In effect, the benchmark GSE-Composite Index declined by 0.6 per cent to close at 3,456 points. This represents a year-to-date return of 34 per cent, Nordea Capital Investment Stock Expert review of the week made available to the Ghana News Agency in Accra on Monday.

According to the Nordea Capital review, CAL Bank led the laggards for the week under review, the stock backtracked 4.2 per cent to close at GH¢1.82 per share.


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CAL profit after tax reduced by six per cent to GH¢32.1 million on account of slower growth in interest income. Societe Generale also dropped 4.2 per cent to close at GH¢2.30 per share, SOGEGH net interest income declined by one per cent which impacted profit after tax by 51.2 per cent to GH¢21.9 million for first quarter.

Guinness Ghana Brewery Limited (GGBL) witnessed a decline of 3.8 per cent to close at GH¢2.50 per share. GGBL reported losses of GH¢7.5 million for the third quarter of the year.

The other significant losers were GOIL (-3.3 per cent), Enterprise Group Limited (-1.7 per cent), Total Ghana Limited (-1.7 per cent), Standard Chartered (-0.3 per cent) and Fan Milk Limited (-0.1 per cent).

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Unilever Ghana Limited led the gainers for the week, appreciating by 3.6 per cent to close at GH¢17.50 per share; SIC Insurance gained 2.4 per cent to close at GH¢0.42 per share.

Ecobank Ghana edged by 0.9 per cent to close at GH¢11.65 per share; GCB Bank inched by 0.6 per cent to close GH¢6.39 per share; and Agribusiness firm, Benso Oil Palm Plantation added 0.6 per cent to close at GH¢7.25 per share.

Anglogold Ashanti recorded the highest turnover following a block trade in its shares which accounted for 92.3 per cent of turnover for the week. The week closed with a total turnover of GH₵120.2 million following the exchange of five million shares.

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The Nordea Income Growth Fund was priced at GH¢0.4938 with a year-to-date return of 22.17 per cent.

Yields on treasury securities rose across board as the 91-day bill increased from 13.36 per cent from 13.38 per cent.

The 182-day bill also went up from 13.84 per cent to 13.86. GNA

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