All-Share Index goes up, shares traded still low
Accra (Greater Accra) 2 Feb. 2000
Normal business began on Wednesday at commercial banks in Accra after brief stoppages on Tuesday when the Industrial and Commercial Workers Union (ICU) of the Trades Union Congress asked their members to lay down their tools.
They were protesting against what they called injustices on the labour front.
Most of the banking halls that the Ghana News Agency visited were busy with bank staff working to ensure that customers were served with minimum delay.
The banks visited included the High Street and Ring Road Central branches of Standard Chartered Bank (SCB), the Ministries, High Street and Boundary Road branches of Ghana Commercial Bank (GCB) and the Kwame Nkrumah Circle and High Street branches of Barclays Bank.
The others were the Adabraka and the Ring Road branches of the Agricultural Development Bank and SSB Bank at Kokomlemle
Meanwhile the ICU on Wednesday asked its striking members to resume work on Thursday.
This follows decisions reached at a tripartite meeting held with the Minister of Employment and Social Welfare and the Ghana Employers' Association (GEA) on Tuesday.
Mr Napoleon Kpoh, General Secretary, speaking to hundreds of workers, who converged at the TUC offices on Wednesday said ICU executives met with local union leaders in the morning and agreed that the striking workers should resume work unconditionally.
He said the meeting deliberated on the content of a communiqué issued after Tuesday's meeting.
Mr Kpoh said in view of the developments, the workers are to resume work unconditionally pending the outcome of the task given the GEA to resolve all pending labour disputes.
GRi../
All-Share Index goes up, shares traded still low
Accra (Greater Accra) 2 Feb. 2000
The All-Share Index of the Ghana Stock Exchange (GSE) on Wednesday registered another upward shift as Guinness Ghana Limited (GGL) gained nine cedis but total shares traded remained low.
The All-Share Index reached 742.33 points with a 0.67-point gain while the change in the year to date moved up to 0.84 per cent.
Total shares traded went up from 4,800 to 9,300 but analysts described it as very low compared to a total offer of 422,530 shares. Shares offered on Monday were higher at 503,470 shares.
Bids also declined from 551,540 to 46,950. Market capitalisation finished trading up at 3,215.15 billion cedis compared to Monday's opening of 3,214.09 billion cedis.
In the broader market, there was only one price change.
GGL gained nine cedis to close trading at 960 cedis.
The following are the last prices of listed equities in cedis:
ABL 470
AGC 18,700
ALW 2,489
BAT 466
CFAO 38
EIC 1,880
FML 935
GBL 1,450
GCB 770
GGL 960 +9
HFC 750
MGL 200
MLC 150
MOGL 14,500
PAF 295
PZ 800
SCB 19,200
SPPC 150
SSB 1,988
UNIL 1,850
UTC-E 125
CMLT 420
GRi../