The Ghana stock market closed Friday July 4 just slightly below the peak to February 21, with the GSE Composite Index up 11.54 percent for the year to date and GSE financial stock index gaining 21.08 percent.
For year to date for the week ending February 21, the GSE Composite Index was up 12.85 percent and the GSE financial stock index gained 21.36 percent. The market had declined after peaking with the Main index falling back to a 4.59 percent gain and 6.32 percent for the GSE financial stock index after the country’s currency fell sharply versus the US dollar and Treasury bill rates climbed to more than 24 percent.
The main market closed at 2352.45 points on Friday 27 of June, closed up by July 4 at 2,392.68. The GSE financial stock index finished 2,163.13 compared to 2,102.52 on June 27.
8 stocks rose for the week and 4 declined, a big improvement over the previous week, when 9 fell to only 4 hat rose. By the end of the week 13 stocks rose in price for the year to date and 14 fell.
HFC Bank, the subject of an offer by Trinidad’s Republic to acquire the majority ownership, had the greatest gain at 51 percent followed by Ecobank Transnational Incorporation, with 47 percent, Ecobank Ghana 31 percent and Total Petroleum 29 percent. The greatest losers were African Champion Industries down 50 percent, Trust Bank down 31 percent, Pz Cussons Ghana 29 percent and Produce Buying Company down 24 percent.
Ghana Market returns close to peak
July 5, 2014 by IC Insider.com
Filed Under: Global Market, Stock Market Tagged With: African Champion Industries, Ecobank Ghana, Ecobank Transnational Incorporation, Ghana Stock Exchange, GSE Composite Index, GSE financial stock index, HFC Bank, Produce Buying Company, PZ Cussons, Republic Bank, Total Petroleum, Trading Activity, Trust Bank
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