Family businesses asked to go public

Shares mark time on the market

Accra (Greater Accra), 18^th November 99

All-Share Index on Wednesday marked time but continued to feel the pressures of the general economic environment characterised by lack of liquidity, after losing nearly 10 points during last Monday's trading.

There were no price movements in any of the listed equities.

Brokers at the Data Bank Securities said this is due to the economic environment of higher interest rates on treasury bills and the depreciation of the cedi, among other things.

The All-Share Index remained at 747.57 points while the change in the year to date stood at negative 13.91 per cent.

Market indicators, however, registered some gains with the total shares traded closing mid-week at 490,800, up from 33,500 shares traded on Monday.

Offers closed at 959,370 compared to 516,730 shares posted on Monday with demand also finishing trading up from 107,000 shares to 662,900 shares.

Market capitalisation remained at 3,223.38 billion cedis.

In the broader market, 14 of the 22 equities had negative price pressures with only seven of them recording sales.

Ghana Breweries Limited (GBL) sold the highest of 450,000 shares followed by Ghana Commercial Bank (GCB) with 32,500 shares.

The rest of the shares were sold by SSB Bank (SSB), Standard Chartered Bank SCB), Fan Milk Limited (FML), CFAO Ghana Limited (CFAO) and Aluworks Ghana Limited (ALW).

Meanwhile, Patterson Zochonis (PZ) has announced a final dividend of 10 cedes, per share before tax for the financial year ended May 31, 1999.

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

ABL 420

AGC 18,700

ALW 2,490

BAT 475

CFAO 40

EIC 1,880

FML 900

GBL 1,500

GCB 749

GGL 950

HFC 750

MGL 200

MLC 160

MOGL 15,700

PAF 291

PZ 800

SCB 19,700

SPPC 180

SSB 1,980

UNIL 1,870

UTC-E 125

CMLT 420

GRi