GOIL shares hit bullish trajectory on stock market

The Ghana Oil Company Limited (GOIL) the nation’s foremost indigenous oil marketing company shares rose by 0.8 per cent to close at GHc1.20 per share at the Ghana Stock Exchange (GSE) mid-week trading.

The GCB Bank also recorded a block trade in its shares which accounted for the stock soaring by 0.2 per cent to close at GHc4.90 per share, Nordea Capital Investment Stock Market analysis made available to the Ghana News Agency in Accra, on Thursday indicated.

According to Nordea Capital Investment Stock market analysis, the mid-week session recorded a boost in activities as 12 equities recorded movements in its shares.

In effect the benchmark GSE-Composite Index edged by 0.1 per cent to close at 1,869 points whilst the GSE-Financial Stock Index also inched up by 0.03 per cent to close at 1,768.2 points.

Volume traded was 1,173,716 shares which were valued at GHc2,309,512.08 whilst the Nordea Income Growth Fund is priced at GHc0.2979 with a year-to-date return of 8.37 per cent.

On the interbank market, the Cedi rose against all three of its major trading currencies; it gained by 1.4 per cent against the US Dollar at a mid-rate of GHc4.6042; rose 1.3 per cent against the Euro at a mid-rate of GHc4.8612 and appreciated by 1.4 per cent against the GBP at a mid-rate of GHc5.6043.

Nordea Capital is an investment bank, licensed by the Securities and Exchange Commission and offers a comprehensive range of services in asset management, research and strategy, corporate finance and private equity to institutional, corporate and private clients.

Nordea Capital is dedicated to growing and preserving client assets and building trust, in partnership with financial professionals and institutions worldwide.

The GSE is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently lists 42 equities from 37 companies and two corporate bonds. All types of securities can be listed.

Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency.