Ghana bourse falls to fresh 1999 low

02:41 p.m May 05, 1999 Eastern

ACCRA, May 5 (Reuters) - The Ghana Stock Exchange fell by 1.7 points on Wednesday due to falls in MLC (MLC.GH) and SSB bank (SSB.GH), the bourse report showed

The all-share index closed at 819.19 points, setting a 1999 low.

Mechanical Lloyd Co. Ltd (MLC.GH) shed 30 cedis to 215, with a total of 300,000 shares traded, representing 63 percent of total volume.

Overall volume reached 474,110 shares on Wednesday for a total value of 338 million cedis ($141,000), compared to just 32,220 worth 52 million cedis during the previous session on Monday.

SSB (SSB.GH) shed another 20 cedis to set a new year low of 1,650. The share has now lost 28 percent of its value since January 22, when it reached 2,280 cedis.

Guiness Ghana Ltd (GUIN.GH) managing director Steve Wilkinson told brokers Databank Research that the company intended to increase production to 575,000 hectolitres per year from 300,000 upon completion of an expansion programme in July. However, the share was unchanged at 910 cedis, with 1,700 traded.

($-2,390 cedis)