Access Bank and Standard Chartered push financial index higher

Losses in five counters lowered the benchmark index by 17.36 points (-0.77%) to close the session at 2,236.09 with a -13.07% year-to-date return while market capitalization moderated by 0.31% to settle at GH¢56.57 billion.

Access Bank (+13.92%) and Standard Chartered (+2.36%) pushed the GSE Financial Index up by 10.75 points (+0.56%) to close at 1,942.95 with a -9.79% year-to-date return.

The manufacturing index was down by 75.08 points (-2.09%) due to downward price movements in Fan Milk (-9.05%) and Benso Oil (-1.38%) to close at 3,513.76 with a -24.49% year-to-date return.

Trading activity jumped as 2,416,799 shares valued at GH¢1,562,183 changed hands compared to 71,566 shares valued at GH¢141,786 at the previous session. CAL Bank dominated trades, accounting for 87.64% of total volume traded and 69.94% of the total value traded.

We expect activity levels to increase at the next session.

Appointment of Managing Director

Unilever Ghana Limited (GSE: UNIL)

UNIL has announced the appointment of Mr. George Owusu-Ansah as the Managing Director effective January 1, 2020.