Bourse still depressed, Mobil drops

ACCRA, Oct 20 (Reuters) - A fall in Mobil's share price sent the Ghana Stock Exchange (GSE) index lower on Wednesday in moderate volume, the official market report showed.

Mobil Ghana dropped 90 cedis and closed at a new 1999 low of 15,900. It traded only 200 shares.


The all-share index shed 0.21 point to close at 762.90, compared with 763.11 on Monday. The index is now down 12.14 percent on the year to date.


Volume stood at 291,400 shares, worth 421.6 million cedis ($148.571). This compares with 138,500 shares, worth 128.51 million cedis ($44,840) in the previous session.


Pioneer Aluminium Factory was the sole gainer on the board, adding two cedis to 252. It was also the second most active stock with 133,400 shares.

The most active, Aluworks did not move in price, but traded 150,200 shares at 2,495.


Once again, Ashanti Goldfields did not trade.


Sources in London said that the chairman and chief executive of Lonmin Plc -- which owns 32 percent of Ashanti and has launched a takeover bid -- were in Accra on Wednesday for talks with Ghana's government. The state has a golden share in the miner.