CPC LEADS GAINERS ON GHANA STOCK MARKET
The Cocoa Processing Company (CPC) led the gainers for the first week of February trading on the Ghana Stock Exchange (GSE) as it appreciated by half its value +50 per cent to close at GH¢0.03 per share.
The Standard Chartered Bank climbed by 15.2 per cent to close the week at GH¢15.00 per share, which according to Nordea Capital Investment Stock Market Experts is the highest price since May 2016.
Nordea Capital Investment Stock Market analysis made available to the Ghana News Agency in Accra, on Monday indicated that the stock market remained largely on a bullish trajectory despite Ghana’s economic challenges.
The Societe Generale Bank also rose by 11.9 per cent to GH¢0.75 per share whilst GCB Bank went up by 6.9 per cent to close at GH¢4.19 per share; and Unilever advanced by 2.7 per cent to close at GH¢8.74 per share.
Total Petroleum edged by 2.3 per cent to close at GH¢2.20 per share and Benso Oil Palm Plantation added 1.4 per cent to its value to close at GH¢2.12 per share; whilst Ecobank Ghana rounded the list of gainers, by inching up by 0.7 per cent to GH¢6.91 per share.
According to Nordea Capital Investment Stock Market Expert, Tullow Ghana lead laggards for the week under review, the stock backtracked by 7.6 per cent to close at GH¢24.83 per share; and the HFC Bank lost 5.6 per cent to close at GH¢0.68 per share.
The Ghana Oil Company Limited dropped by 0.9 per cent to close at GH¢1.11 per share.
According to the Nordea Capital Investment Stock Market Expert, the GCB Bank emerged as the most traded equity in value terms for the week under review as its stock accounted for 34.3 per cent of all value traded.
Total volume traded was 1.6 million shares which were valued at GH¢1.7 million.
According to the Nordea Capital Investment Stock Expert, the bourse extended its momentum from January into February consequently the benchmark GSE-Composite Index appreciated by 3.3 per cent to close at 1,825.6 points, representing a year-to-date return of eight per cent.
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The GSE is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990.
It currently lists 42 equities from 37 companies and two corporate bonds. All types of securities can be listed.
Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency.