Stanchart loss drags down market index
PEF calls for review of trade policy
Stanchart loss drags down market index
Accra (Greater Accra Region) 11 May 2000
Another slump in the share price of Standard Chartered Bank (SCB) on Wednesday dragged the All-Share Index down by 19.96 points to close mid-week trading at 805.66 points.
The All-Share Index on Monday registered a moderate gain of 0.06 points after losing 43.44 points as a result of a 4,500 cedis plunge by SCB.
Brokers last Friday attributed the big fall to adjustment in the share price of the GSE's highest priced equity and were hopeful that it would soon stabilise at its actual value.
The change in the year to date also decreased to 9.44 per cent from 12.15 per cent registered at the previous session with market capitalisation also going down to 3,304.29 billion cedis from 3,335.87 billion cedis.
Volumes traded, demanded and offered, however, made slight increases. Offers were 2,349,560 up from 2,329,650 while bids increased from 110,300 to 121,300 shares. Shares traded were 15,700, up from Monday's close of 9,500 shares. In the broader market, there were two price changes - one up and one down.
SCB lost 2,000 cedis to close trading at 22,000 cedis while Fan Milk Limited gained five cedis again to finish mid-week trading at 985 cedis. It gained five cedis on Monday.
The following are the last prices of listed equities in cedis:
ABL 530
AGC 18,600
ALW 2,500
BAT 459
CFAO 38
EIC 1,885
FML 985 +5
GBL 1,450
GCB 980
GGL 976
HFC 910
MGL 200
MLC 150
MOGL 16,000
PAF 300
PZ 800
SCB 22,000 -2,000
SPPC 150
SSB 1,998
UNIL 1,850
UTC-E 125
CMLT 422
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PEF calls for review of trade policy
Koforidua (Eastern Region) 11 May 2000
The Private Enterprises Foundation (PEF) has called for a revision of the country's trade policy to make it possible for limited restrictions on imports.
According to PEF, the current trade policies put a lot of pressure on local producers whose products cannot compete with imported items in terms of prices, Mr Kwesi Abeasi, Director General of PEF, said at the opening of a three-day seminar on marketing for small and micro businesses in the Eastern Region at Koforidua on Wednesday.
Mr. Abeasi said the current economic crisis facing the country demanded that entrepreneurs managed their ventures well to avoid setbacks, which could throw them out of business.
The PEF, according to him, believes that the small and medium scale operators needed to be aware of this situation to be able to face the challenges.
Mr. Abeasi emphasised that the seminar had been designed to enable the participants to acquire basic skills in marketing to help them in promoting good sales and improved business performance.
The Eastern Regional chairman of the Association of Ghana Industries (AGI), Mr. Samuel Apenteng, who chaired the function said the current competitive nature of business called for a lot of efforts to be put in marketing to enable the small scale entrepreneur stay in business.
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