Local Bourse remains flat as trading activity weakened

The GSE Composite Index closed flat at 1,941.03 with a year-to-date return of -14.01% for the second straight session while the market capitalization stayed at 53.54 billion.

Consequently, the GSE Financial Index and SAS Manufacturing Index stayed at yesterday’s level of 1,843.10 and 2,980.13 with a -8.74% and -14.40% year-to-date return, respectively.

Trading activity weakened as 1,946 shares valued at GH¢3,588 changed hands from 19,121 shares valued at GH¢ 11,196 in the previous session. PZ Cussons dominated trades by volume, accounting for 64.08% of the total volume traded while GCB Bank dominated trades by value, accounting for 49.94% of the total value traded.

We expect trading activity to pick up as investors take advantage of bargain stocks.

Final Dividend

CAL Bank Limited - (GSE: CAL)

CAL has announced a final dividend of GH¢0.089 per share in respect of its financial year ended December 31, 2019. This is subject to shareholders’ approval at the bank’s Virtual Annual General Meeting that will be held at 10:00 am on Wednesday, 24 June 2020. The final dividend for 2018 was GH¢0.048 per share.