Two financial stocks trended lower, inching the GSE Composite Index down by 3.83 points (-0.18%) to close at 2,149.33 with a -16.44% year-to-date return while market capitalization moderated by 0.07% to settle at GH¢55.52 billion.
In consequence, the GSE Financial Index shed 7.12 points (-0.39%) to close at 1,806.04 with a -16.14% YTD return due to downward price movement in CAL Bank Limited (-8.57%) and Enterprise Group Limited (-0.61%).
The SAS Manufacturing Index remained unchanged for the eleventh successive session, closing at 3.623.32 with a -22.13% year-to-date return.
Trading activity shot up with 6,696,918 shares valued at GH¢4,321,826 changing hands compared with 792,253 shares valued at GH¢1,400,629 in the previous session. CAL Bank dominated trades, accounting for 99.36% of total volume traded and 99.26% 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.
Gainers & Losers
Top Trades by Volume