Societe Generale Ghana

Ghana stocks up for another week

June 8, 2014 by IC Insider.com

Ghana Commercial Bank 2013 annual general meeting – the bank’s stock rose 27% for the week

The Ghana stock market continues to recover from the decline the market suffered since peaking in February. During the week the market closed with the composite index at 2,343.98 with 11 stocks rising while 7 declined, a marked change over the previous week when the composite index closed the previous at 2,319.12 points with the prices of 8 stocks climbing and 7 declining.
The financial services index closed the week at 2,066.58 up from 2,033.20 the week before. During the week, 1,868,436 shares were traded, down from 3,235,500 units in the week before. At the end of trading there were bids for 18 securities and offers for 28, an indication of weakness in the overall market.
Gains| The stocks closing with strong gains include, Benso Oil Palm Plantation that rose by 6 percent to close at GH¢2.48, Ecobank Ghana gained GH¢0.55 or 8 percent to reach GH¢7.05, Ecobank Transnational Incorporation gained GH¢0.03 or 15 percent to close at GH¢0.23, Ghana Commercial Bank closed at GH¢5.35 as the price jumped by 27 percent or GH¢1.14, HFC Bank closed up GH¢0.11 to GH¢1.45 for an 8 percent gain, Produce Buying Company gained 8 percent to GH¢0.14, Sic Insurance gained 14 percent to close at GH¢0.42, Societe Generale Ghana was up 11 percent to GH¢0.92 and Sam Wood gained 33 percent to end at GH¢0.04.

The big losers are Enterprise Group with a loss of GH¢0.57 to close at GH¢1.42 for a 29 percent decline, Mega African Capital lost 11 percent in value to close at GH¢3.10 and Mechanical Lloyd ended at GH¢0.29 down by 12 percent.

Filed Under: Global Market Tagged With: Benso Oil Palm Plantation, Ecobank GhanaEcobank Transnational Incorporation, Enterprise Group, financial services index, Ghana Commercial Bank, Gnana Composite Index, HFC Bank, Mechanical Lloyd, Mega African Capital, Produce Buying Company, Sam Wood, Societe Generale Ghana

GSE – advancing stocks just ahead

May 31, 2014 by IC Insider.com

Ghana stock market continues to recover from the decline the market suffered since peaking in February. For the week ending May 30, the market closed with the composite index at 2,319.12 with 8 stocks rising while 7 declined. For the previous week the composite index closed at 2,243.70 as the prices of 7 stocks climbed and 11 that declined. The financial services index closed the week at 2,033.20, up from 1,916.77 at the close of the prior week. During the week 3,235,500 shares were traded versus 10,128,018 in the week before. At the end of trading there were bids for 20 securities and offers for 31, an indication of weakness in the overall market.
Sic Insurance gained 6 percent to close at GH¢0.37 and Societe Generale Ghana was up 20 percent to GH¢0.83.
The big losers are African Champion Industries down 25 percent to close at GH¢0.03, Enterprise Group with a loss of GH¢0.17 to close at GH¢1.99 for an 8 percent decline, Produce Buying Company fell 13 percent to GH¢0.14.

Filed Under: Global Market, Stock Market Tagged With: African Champion Industries, Enterprise Group, financial services index, Ghana composite index, Ghana stock market, Produce Buying Company, Sic Insurance, Societe Generale Ghana

13 stocks down, 5 up on GSE

May 10, 2014 by IC Insider.com

The number of stocks declining in the market to May 9 increased from 11 the previous week to 13 at the end of the current week but the number advancing climbed from 1 to 5 as trading on the Ghana Stock exchange continued to decline and has almost wiped out the gains enjoyed in the two months to February.
At the close of the week the market continue to show signs of weakness while the two indices declined with the GSE Composite Index closing at 2247.01 compared with 2,255.20 at the end of the previous week’s trading and the GSE Financial Stocks index that closed at 1,899.49 compared with 1,913.11, leaving the GSE FS index up just 6.3 percent for the year to date.
The level of trading for the week declined to 6,488,878 million shares compared with the previous week at 9.8 million shares.
In trading African Champion Industries fell 33 percent in trading 3,963,100 units on Friday with the price ending at GH¢0.04, Aluworks lost 17 percent to close GH¢0.05, Eco Bank Transnational lost 9 percent to close at GH¢0.20, Sic Insurance Company lost 13 percent to close at GH¢0.35 and Societe Generale Ghana lost 6 percent to close at GH¢0.62 were the stocks that suffered the greatest loss. Tullow Oil Plc closed with a 16 percent gain to end the week at GH¢35.
At the end of the week there was still signs of weakness with only 18 stocks having bids and 27 offers compared to 15 to 29 at the end of the week before.

Filed Under: Global Market, Stock Market Tagged With: African Champion Industries, Aluworks, Eco Bank Transnational, GSE Composite Index, GSE FS index, Sic Insurance Company, Societe Generale Ghana, Tullow Oil Plc

11 stocks down, 1 up on GSE

May 2, 2014 by IC Insider.com

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Trading on the Ghana Stock exchange for the week ending May 2, continued the decline that has been evident ever since the country’s currency came under added pressure and interest rates were pushed further upwards. In the past week the market reversed the moderate gain experienced in the prior week by shedding the prices of 11 stocks and facilitating only one price gain.
At the close of the week, the market continues to show signs of weakness while the two indices declined with the GSE Composite Index closing at 2,255.20 compared with 2,276.12 at the end of the previous week’s trading. The GSE Financial Stocks index closed at 1,913.11 compared with 1,934.75 on the April 17, leaving the index up 7 percent for the year to date.
The level of trading for the week picked strongly from the 1.5 million shares traded for the previous week, as 9.8 million shares changed hands for the holiday shortened week. Cal Bank accounted for 7,119,700 shares on Tuesday, and on Wednesday 2,186,100 shares of the total traded, while losing 14 percent of its value by week end, to end at GH¢2.50. Except for these two trades, the volume of stocks traded was very low.
Sic Insurance Company lost 5 percent to close at GH¢0.40 and Societe Generale Ghana lost 6 percent to close at GH¢0.66 were the stocks that suffered the greatest loss. At the end of the week there was still signs of weakness with only 15 stocks having bids and 29 offers compared to 18 to 29 at the end of the week before.

Filed Under: Global Market, Stock Market Tagged With: Cal Bank, GSE Composite Index, Sic Insurance Company, Societe Generale Ghana, The GSE Financial Stocks index

New listing on GSE as prices gain

April 25, 2014 by IC Insider.com

The week ending April 25 saw one new entrant to the list of companies as Mega African Capital (MAC) a long-term private investment company became the newest listing on the Ghana Stock Exchange having listed on April 24.
MAC traded 5,500 shares at GH¢3.50 having opened at GH¢3.10 for a gain of GH¢0.40. The company objective is to target high net-worth investors looking for African opportunities to generate high real returns. The total number of shares issued by the company is 8,641,469 units.
At the close of the week, the market continues to show signs of weakness but it managed to slow the decline somewhat, with 6 stocks advancing, to 4 that declined while the two indices gained moderately, with the GSE Composite Index closing at 2,276.12 compared with 2,272.40, at the end of the previous week’s trading. The GSE Financial Stocks index that closed at 1,934.75 on the final trading day of the previous week, closed higher with 5 of the 6 stocks advancing and only one of the declining stocks were from the financial sector.
The level of trading for the week was poor, with only 1.5 million shares trading, of which 1.1 million traded on Friday, Societe Generale Ghana traded 1 million units on that day.