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Business News Wed, 3 Dec 1997

STOCK EXCHANGE MARKS TIME

Accra (Greater Accra) 2 Dec. '97 Share prices today ended a drab session on the Ghana Stock Exchange (GSE) static as no equity recorded changes and all market indices closed without any movement. The GSE all-share index and market capitalisation both closed at their levels of last Friday at 520.88 points and 2,669.06 billion cedis respectively. Volume of shares changing hands closed at 51,150 slightly down from last Friday's 56,420. Bids were still high at 4.4 million compared to improved offers of 767,150 against the previous session's 603,050. Pioneer Tobacco Company (PTC) continued to attract the most investor interest with bids of three million but selling none of its 47,000 shares on offer. There were bulk purchases in GCB (24,300), SSB (15,900) and SPPC (10,000) in SPPC in what one analyst said is the normal trend around this time of year. He said this because people want to hold on to their investments and do no want to move capital around too fast with Christmas approaching.

Following Are The Last Price Of Equities;

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ABL 727 AGC 18,000 ALW 2,500 CFAO 40 EIC 725 FML 520 GCB 735 GGL 649 HFC 230 KBL 966 MOL 160 MLC 197 MOGL 8,900 PAF 197 PZ 330 SCB 7,700 SPPC 50 SSB 1,094 UNIL 1,500 UTC-E 100 gri

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