Index makes another gain, brokers expect economic turn around
Ministry bans importation of beef products
Accra (Greater Accra) 07 December 2000
Central Accra was practically empty on Thursday morning. Many shops and offices closed. Traffic usually jammed with noisy streets, was sparse, creating a holiday mood as Ghanaians shifted the day's business to polling stations to elect their rulers.
Feelings of elation at another opportunity to tell their leaders their "piece of mind" and anxiety brought on by signs of violence in the last days preceding the election combined to place voters in a high state of alert.
This anxiety translated into impatience as polling places failed to open at the scheduled 0700. Some of the voting stations were at Sakaman, Odorkor, Abossey-Okai, Kaneshie, Kwame Nkrumah Circle and Asylum Down. Election officials turned up with election materials at an hour or a half- hour later.
With long, winding queues at the stations early in the morning, the polls promise a high turn- out. In most of the queues, female voters outnumber the men.
Other voters, especially the elderly, opted to stay at home until later in the day when the crowd might have reduced.
Skirmishes were reported at stations in Bubuashie and Kaneshie. The skirmishes were caused mainly by some voters trying to jump the long queues. Other voters demanded that polling officials be visible to everyone.
Such incidents appeared to be limited. Voting at stations around Circle and Asylum Down were peaceful and orderly.
In passenger vehicles and side walks the arguments still rage on among voters 48 hours after their candidates had made their last statements.
Some passengers on a bus unable to control their emotions slandered each other so abusively it almost led to a fight. The soothing words of a few elderly women cooled off the emotions.
Police in riot gear tightly secured the offices of the Electoral Commission. Police wore full riot gear and had a riot van stationed in front of the Commission's offices.
Within the Commission's premises mounted police stationed their horses at vantage points, truncheons and canes in hand.
But for junior officers assisting the police and visitors, none of the senior staff of the Commission was on hand at 0815 when the GNA got there. All of them, it was learnt, had gone on rounds to monitor the conduct of the polls.
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Index
makes another gain, brokers expect economic turn around
Accra
(Greater Accra) 07 December 2000
The Ghana
Stock Exchange (GSE) on Wednesday recorded another gain of 0.38 points to lift
the All-Share Index to 866.66 points from 866.28 points.
Mr. David
Abbey, a broker with Data Bank Limited, said the gain was on the back of high
bids in Aluworks Ghana Limited (ALW) that saw the equity making
50 cedis to
sell all 1,700 shares posted on the bourse. Investors bid for 2,400 shares.
He said ALW
is able to make an impact on the market index because of the effect of the
price gain on its 13.89 million shares on the market.
He said the
equity's recent performance has earned it the name "a star boy",
which can also be attributed to the high exchange gains it has been making
through exports.
Mr. Abbey
explained that ALW's main competitor, a Nigerian smelter company, has been
closed down and this has widened ALW's share of the international market.
"Analysts
believe the quality of products from ALW will leave a sterling impact on the
international market and the re-opening of the Nigerian company will not affect
production," he added.
On the
recent performance of the All-Share Index of the GSE, Mr Abbey noted that
political risks, exchange risks and treasury bill competition with dividends,
have contributed to the recent unimpressive performance of the market index.
"As a
result, investors in the offshore market who hold about 60 per cent of
investments on the GSE have off-loaded most of their shares," he said.
Lack of
patronage by indigenes and low-income levels also continue to be a major
setback to investment on the bourse.
Mr. Abbey
expressed the hope that political leaders will keep their promises of turning
the economy around to have a good impact on the bourse.
"Either
way, we expect the ruling party or any other party who wins the elections to
honour their promises."
Other
market indicators recorded some gains but were on the low level.
Shares
traded on the market increased by a small margin to 57,600 from 51,600. Demand
went up to 98,500 from 67,200 while offers finished up at 631,010 from 627,150.
Market
capitalisation closed up at 3,650.52 billion cedis as against 3,649.83 billion
cedis.
In the
broader market, there was only one price change.
ALW gained
50 cedis to finish trading at 4,150 cedis.
The
following are the last prices of listed equities in cedis:
ABL 630
AGC 18,600
ALW 4,150 +50
BAT 400
CFAO
51
EIC 2,400
FML 950
GBL 1,350
GCB 1,500
GGL 990
HFC 952
MGL 200
MLC 145
MOGL
18,600
PAF 268
PBC 503
PZ 400
SCB 21,500
SPPC 255
SSB 2,100
UNIL 1,670
CMLT
425
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Ministry bans importation of beef products
Accra
(Greater Accra) 07 December 2000
The
Ministry of Trade and Industry has banned the importation of beef products,
including corned beef, from Germany, France and Spain.
This
follows the outbreak of bovine spongiform encephalopathy (BSE), also known as
madcow disease in these countries.
This was
contained in a statement issued in Accra on Wednesday and signed by Mr J.S. Dalrymple-Hayfron, Chief Director at
the ministry.
"The
ministry is monitoring the crisis in Europe regarding the 'madcow disease', and
will review the ban as and when
necessary."
The
statement said that the ban was temporary and importers and the public should
take note.
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