Stock Market closes flat as investors eye earnings updates

The GSE Composite Index was unchanged at 2,156 with a -16.18% year-to-date return while the market capitalization was also flat at GH¢55.58 billion.

Accordingly, the GSE Financial Index stayed at 1,817.44 with a -15.61% year-to-date return.

The SAS Manufacturing Index recorded no gains or losses for the eighth successive sessions, closing at 3.623.32 with a -22.13% year-to-date return.

Trading activity weakened as 539,233 shares valued at GH¢365,766 changed hands compared with 6,158,142 shares valued at GH¢4,258,948 in the previous session. MTN Ghana dominated trades, accounting for 95.88% of total volume traded and 98.94% of the total value traded.

We expect trading activity to pick up as investors await more earnings announcements.

Company in Focus

Tullow Oil Plc (GSE: TLW)

TLW has appointed Martin Greenslade as a non-executive Director of the company with effect from 1 November 2019, as Steve Lucas, Audit Committee Chair, steps down as a non-executive Director in 2020 after eight years with Tullow.

Martin Greenslade has also been appointed as a member of the Audit Committee and will stand for election to the Board at the 2020 Annual General Meeting (AGM).

Annual General Meeting (AGM)

Aluworks Limited (GSE: ALW)

ALW has announced that the Company’s 32nd Annual General Meeting will be held at the Rotary Club House Conference Centre in Tema Community 5 (near Chopsticks Restaurant) on Thursday, November 7, 2019 at 10 am.

PZ Cussons Limited (GSE: PZC)

PZC has announced that the Company’s Annual General Meeting will be held at the Kama Conference Center, Plot 8, Ring Road, Accra on Monday, November 11, 2019 at 10 am.

Guinness Ghana Breweries Limited (GSE: GGBL)

GGBL has announced that the Company’s 47th Annual General Meeting will be held on Wednesday, 13th November 2019 at the Golden Bean Hotel, Kumasi at 11.00 am.