Market Summary

Fan Milk Ghana Limited (+0.89%) advanced as offers dried up in the market. Consequently, the manufacturing index increased by 7.12 points (+0.18%) to close at 3,928.04 with a -15.59% YTD return.

The GSE Financial Index declined by 4.23 points (-0.21%), closing at 2,000.18 with a -7.13% YTD return due to a loss in Cal Bank Limited (-5.26%).

Changes in banking, insurance, beverage and telecom stocks led to a 13.92 points (-0.60%) decline in the benchmark index. The GSE-CI closed at 2,304.81 with a -10.40% YTD return while market capitalization declined by 0.24% to settle at GH¢57.82 billion.

Trading activity strengthened with 135,510 shares valued at GH¢150,715.78 changing hands compared to 23,787 shares valued at GH¢51,852 yesterday. MTN Ghana dominated trades by volume, accounting for 48.56% of total volume traded while Standard Chartered Bank accounted for 31.93% of total value traded.

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

Company in Focus

Ecobank Ghana Limited (EGH)

EGH has announced the appointment of Mrs. Patience Akyianu as a Non-Executive Director of Ecobank Ghana Limited, effective 1st July 2019.

Mrs Patience E. Akyianu is currently the Chief Executive Officer of the Hollard Group in Ghana and is a director of both the Boards of Hollard Insurance Ghana (General Insurance) and Hollard Life Assurance Ghana.

Mechanical Lloyd PLC (MLC)

MLC has announced the resignation of Mr. Yaw Assah-Sam, a Non-Executive Director of the Company, effective June 6 2019.

Market Indices

Top Trades by Volume