PZ Cussons, 4 others are Ghana’s best performing stocks

PZ Cussons, Enterprise Group, CAL, BOPP and Ghana Commercial Bank were the best performing stocks on the Ghana Stock Exchange at the end of the first nine months of this year.

PZ which returned 405 percent profit to investors ended the third quarter with a price of 91 pesewas per share from 18 pesewas per share in January 1.

While Enterprise Group and CAL posted 295 and 186 percent growth respectively in their share prices, BOPP and GCB recorded 171 and 152 percent growth at the end of the period.

The losers at the end of the first nine months were Ayrton Drugs, Trust Bank Gambia, African Champion Industries and Tullow Oil. They recorded 5.6, 12.5, 14.3 and 18.1 percentage points’ losses respectively in their share prices.

The Ghanaian Stock Exchange closed the first nine months of 2013 with a year-to-date gain of 69.3 percent in Cedi terms. This came on the back of gains in the banking, insurance, consumer goods and trading sectors. Mr. Mohammed says the market will maintain its momentum.

“The rally was driven by investor reaction to impressive FY2012, Q1 2013 and Q2 2013 earnings and corporate announcements.

Some global investors increased their exposure to the Ghanaian market in sectors that contributed to the impressive performance including the banking, consumer goods and insurance sectors. It is expected to continue till the end of the year.”