Volume of shares slump on Accra bourse

Accra (Greater Accra), 28 Jan. '99 -

The volume of shares traded on the Ghana Stock Exchange (GSE) in Accra yesterday slumped, but gains in two equities sustained the market, sending the GSE All-Share Index up by 1.41 points. The market index appreciated to 893.68 points from the 892.27 registered during the last session. Total shares offered, though lower at two million, far out-numbered bids of 204,600, with investors still in a profit-taking mood. Total shares offered at the last session finished at 2.3 million. Market capitalisation closed mid-week trading at 3,408 billion cedis, compared to Monday's close of 3,406 billion cedis. On the broader market, there were five price changes - three up, two down. Standard Chartered Bank (SCB) continued its gains, rising by 50 cedis to end at 25,350 cedis, while Guinness Ghana Limited (GGL) went up by 20 cedis to close at 1,000 cedis. Mechanical Lloyd Company (MLC) made eight cedis on its share price to close trading at 250 cedis. On the losing side, Ghana Brewery Limited (GBL) dropped by 50 cedis to close at 1,650, while CFAO lost three cedis to close at 55 cedis. The following are the last prices of equities in cedis :

ABL 800

AGC 19,000

ALW 2,800

CFAO 55 -3

EIC 2,300

FML 1,680

GBL 1,650 -50

GCB 1,100

GGL 1,000 +20

HFC 750

MGL 225

MLC 250 +8

MOGL 20,000

PAF 400

PTC 400

PZ 900

SCB 25,350 +50

SPPC 250

SSB 2,280

UNIL 1,650

UTC-E 125

Vision 2020 to facilitate private sector development