Stock Exchange comes down to earth

Accra (Greater Accra) 7 Dec. ’99

The Accra bourse came down with a bang on Monday after last Wednesday's record sales propelled by huge sales of SSB Bank shares.

Total shares traded on Monday were a meagre 10,800 compared with 11,544,830 shares traded last Wednesday. SSB Bank alone accounted for 11,429,100 of those shares.

There was no trading on Friday because of the Farmers' Day holiday.

The GSE All-Share Index again lost, this time by 1.9 points from 746.89 to 744.99 points after a huge loss of Mobil Oil Ghana Limited (MOGL). With only a few weeks to go, the change for the year now stands at negative 14.21 per cent.

A total of 615,160 shares were offered on Monday compared to 12,145,580 last Wednesday, while those demanded were 84,100 compared to 11,599,030.

Market capitalisation also went down from 3,222.30 billion cedis to 3,219.30 billion cedis.

On the broader market there were three price changes - one up and two down.

MOGL lost 700 cedis at 15,000 and Ghana Commercial Bank, which gained four cedis last Wednesday, lost by the same margin at 750 cedis.

Accra Brewery Limited (ABL) was the sole gainer with 10 cedis at 450 cedis.

There was negative pressure on many of the equities.

The following are the last prices of listed equities in cedis:

ABL 450 +10

AGC 18,700

ALW 2,490

BAT 470

CFAO 38

EIC 1,880

FML 900

GBL 1,450 -50

GCB 750 -4

GGL 950

HFC 750

MGL 200

MLC 150

MOGL 15,000 -700

PAF 300

PZ 800

SCB 19,700

SPPC 150

SSB 1,980

UNIL 1,860

UTC-E 125

CMLT 420

GRi./