Bid And Offers
Ghana Stock Exchange Bounces Up

Trading activity on the stock market opened the week on a positive note with gains in five equities helping the indices extend gains for a fourth-straight session.

Ecobank Ghana led gainers rising 29GHp to close at GH?6.0. Standard Chartered followed climbing 9GHp to GH?15.11 while CAL, Enterprise and Fan Milk inched up a pesewa each to 99GHp, GH?1.87 and GH?6.73 respectively.

On the flip side PZ Cussons and BOPP shaved a pesewa each to 76GHp and GH?3.18 respectively.

A total of 351,777 shares valued at GH?541,851 changed hands in twenty equities.

With these changes, the benchmark composite index added 17.98 points today to close at 2,204.91. This brings the market?s return to 2.78% this year.? The GSE Financial Index (FSI) also edged up by 25.07 points to 1,872.30 with a year to date return of 4.80%.

bid and offersBids trailed offers at the close of the week?s opening session but we foresee the market extending gains as investors are eager to take positions ahead of the release of full year results.

Stanchart, Unilever Ghana, Ecobank Ghana and CAL Bank are some of the stocks likely to rise on demand.

The 91 and 182-Day bills edged higher but the other treasury rates were stable at the auction held last Friday January 17, 2014.

The 91-Day bill gained 19 basis points to 19.60%. The 182-Day bill was also up 18 basis points to 19.43%. The 1-Year and 2-Year Notes were unchanged from the previous week?s 17.0% and 16.50% respectively.

The Bank of Ghana accepted GH?631.89M out of the GH?633.02M submitted by dealers for bills and notes.

On the currency market, the Cedi opened the week on a mixed note appreciating against the Euro and the Swiss Franc. It however slipped against the Dollar, Pound and the South African Rand.

The Cedi gained 0.20% and 0.21% against the Euro and the Swiss Franc to open the week at GH?3.12 and GH?2.53 respectively.

The Cedi however shaved 0.04% and 0.63% against the Dollar the Pound with rates on the interbank market averaging GH?2.30 and GH?3.77 respectively.

The Cedi was also down 0.92% against and the South African Rand with rates by interbank traders at GH?0.21.

Source Merban Stockbrokers Ltd

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