Accra stock index continues impressive run
Accra (Greater Accra) 07 September 2000
The Ghana Association of Bankers on Wednesday announced the following average inter bank exchange rates of the cedi equivalent to the dollar and derived rates for other major foreign currencies:
Currency Selling Buying
US Dollar 6,293.27 6,516.55
Pound Sterling 9,118.32 9,447.04
French Franc 846.68 876.41
Swiss Franc 3,583.12 3,709.38
Deutsche Mark 2,838.83 2,940.26
Canadian Dollar 4,255.73 4,405.24
Japanese Yen 59.50 61.60
Dutch Guilder 2,520.75 2,608.67
S/African Rand 892.28 922.63
Euro 5,554.87 5,750.22
CFA Franc 8.47 8.76
Naira 56.98 59.00
Ecowas/WAUA 8,075.16 ----------
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Accra (Greater Accra) 07 September 2000
The GSE All-share index, the key stock gauge, edged firmer by 11.42 points on Wednesday to continue its impressive run courtesy a 130-cedi gain by advancing Ghana Commercial Bank (GCB).
It closed trading at 835.85 points compared to 824.43 points on Monday.
The market capitalisation equally ended trading slightly stronger at 3,600.32 billion cedis up from the previous close of 3,578.87 billion cedis.
The change year to date now stands at 13.54 per cent as against 11.99 per cent on Monday.
Despite the gains, however, the market was poor and offer-driven. Traded volumes slipped heavily from a high of over one million shares to close at 18,400. Only five equities out of the 23 listed on the bourse traded shares, with four of them selling all the shares posted.
On the broader market, there was only one price change. GCB went up by 130 cedis to end trading up at 1,300 cedis. There was, however, a downward pressure on 13 equities while four had no pressure at all.
Brokers said the high demand for GCB shares is likely to push its share price further high. The bank last month declared a net profit of over 55 billion cedis for the half year. It has since then witnessed a series of gains in its share price.
Offers declined at 1.9 million down from 2.7 million shares at the previous session.
Bids also closed down more than 10 times at 79,000 from a little over one million on Monday.
Below are the closing prices of listed equities in cedis:
ABL 625
AGC 18,600
ALW 2,450
BAT 438
CFAO 38
EIC 1,880
FML 1,100
GBL 1,350
GCB 1,300
GGL 990
HFC 950
MGL 200
MLC 149
MOGL 17,500
PAF 300
PBC 520
PZ 800
SCB 21,000
SPPC 155
SSB 1,996
UNIL 1,800
UTCE 125
CMLT 425
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