The benchmark index moderated by 3.05 points (-0.13%) to close at 2,343.48 with a -8.89% year-to-date return due to losses in five counters in the consumer goods, banking and agro processing sectors while market capitalization declined by 0.40% to settle at GH¢58.00 billion.

Fan Milk Ghana Limited (+0.88%) pushed the SAS Manufacturing Index higher for the second straight session due to better adjusted 1H 2019 financial performance. The SAS-MI gained 13.84 points (+0.36%) to close at 3,868.23 with a -16.87% year-to-date return.

The GSE Financial moderated by 7.47 points (-0.36%) due to losses in Cal Bank Limited (-1.01%), Societe Generale Ghana Limited (-1.37%) and Ecobank Transnational Incorporated (-8.33%) to close at 2,062.03 with a -4.26% year-to-date return.

Trading activity strengthened as 245,203 shares valued at GH¢705,925 changed hands compared to 28,286 shares valued at GH¢93,299 at the last session. Fan Milk Ghana Limited dominated trades, accounting for 20.66% of total volume traded and 33.97% 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.

Market Indices

Top Trades by Volume