Stockbrokers
Four Equity Gains Push Gse Up

The stock market sustained its northward drive with gains in four equities helping the indices defy a laggard to close higher.

 

Standard Chartered was the lead gainer edging up by 5GHp to close at GH?15.16. The three other movers gained 2GHp each. Enterprise Group rose to GH?1.89; Ecobank Ghana climbed to GH?6.02 while Fan Milk was up to GH?6.75.

 

On the other hand, Tullow dropped 13GHp to GH?34.85.

 

In all, a total of 544,666 shares valued at GH?599,985 changed hands in eighteen equities.

 

With these changes, the benchmark composite index edged up by 2.92 points to close at 2,207.87. This brings the market?s return to 2.92% this year.? The GSE Financial Index (FSI) also gained 3.61 points to 1,875.91 representing a year to date return of 5.0%.

 

Outlook

Stanchart, Fan Milk, Ecobank Ghana and CAL Bank are some of the equities that closed trading today with outstanding bids. We thus foresee demand for their shares giving the indices a boost at the midweek session.

 

The Cedi gained 0.08% and 0.10% against the Euro and the Pound with rates on the interbank market averaging GH?3.11 and GH?3.77 respectively.

 

The Cedi was also up 0.10% and 0.13% against the Swiss Franc and the South African Rand with average rates by interbank dealers at GH?2.52 and GH?0.21 respectively.

Stockbrokers

Against the Dollar, the Cedi was unchanged at the week?s opening rate of GH?2.30.

On the currency market, the Cedi clawed back some grounds lost to the Pound on Monday.

The local currency also strengthened against the Euro, the Swiss Franc and the South African Rand. It was however unchanged against the Dollar.

 

Source Merban Stockbrokers Ltd

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