The benchmark index advanced by 9.77 points (+0.42%) on the back of gains in two banking counters to close at 2,317.51 with a -9.90% year-to-date return while market capitalization increased by 0.17% to settle at GH¢57.74 billion.

Standard Chartered Bank (+4.11%) gained GH¢0.75, pushing the GSE Financial Index up by 18.53 points (+0.90%) to close at 2,061.31 with a -4.29% year-to-date return.

The SAS Manufacturing Index recorded no gains or losses at the session, closing at yesterday’s level of 3,848.24 with a -17.30% year-to-date return.

Trading activity strengthened as 80,663 shares valued at GH¢73,201.16 changed hands compared to 15,906 shares valued at GH¢40,100.24 at the last session. Ecobank Transnational Incorporated dominated trades by volume, accounting for 37.39% of total volume traded while GCB Bank Limited accounted for 50.11% of total value traded.

We expect increased activity in financial stocks due to outstanding bids at the next session.

Company in Focus

Ecobank Transnational Incorporated (ETI)

ETI has announced that Ayo Adepoju has been appointed as Group Chief Financial Officer, with immediate effect. As a member of the Group Executive Committee, he will report directly to the Group Chief Executive Officer.

Ayo Adepoju was appointed as the Acting Group Chief Financial Officer in April 2019.

Prior to his current role, Ayo Adepoju was Group Head of Business Performance and Analytics. He worked on the strategic aspects of the financial management of the Group, including close equity investor interaction. He has built up significant experience within the Group and has a deep understanding of the underlying drivers of the business across Africa which are imperative for the continued growth of the Group.

Gainers & Losers

Market Indices

Top Trades by Volume