DEC 11, 2018: ETI LONE RANGES AT GHANA STOCK EXCHANGE

Ecobank Transnational Incorporated lone ranged at Ghana Stock Exchange on Tuesday December 11 2018 in terms of price change and it showed clearly what it can always do to the Ghana Composite Index.

ETI closed down GHs 0.01 per share as the only equity with price change and the GCI crumbled by 4.01 points to 2608.41 from 2612.42 on Monday.

That was not surprising because only few equities at the market had the potential for similar impact: AngloGold which is hardly traded; Tullow Oil also rarely traded and MTN Ghana.

Of them all Tullow oil (TLW) has the top potential because of combined fairly high price and issued number of shares leading to top market capitalisation but alas, it has updated negative earnings per share.

ETI recorded it's last deal as its 500 shares were traded at GHs0.18 per share compared to GHs 0.19 previously but bid price still remained stubborn at GHs 0.16 per share at close.

Trading indicators shrunk some more from Monday's lowly 62,200 shares traded volume to just 33,613 shares.

Top trade was CAL Banks 15,000 shares traded at firn GHs 0.95 per share and looked set to stay there for a while or go up because bid price closed at same level without any more matching offer.

Societe Generale Ghana had price shift and recoil worth watching next day or two. It closed Monday at GHs 0.75 per share, rose GHs 0.03 to witness last deal at GHs 0.78 per share as 2500 units were exchanged then fell back to close firm. Offer price though stayed at GHs 0.78 per share leading to mismatch with bid that stayed firm.

In all 9 equities recorded deals within Tuesday, one short of Monday's 10 and from figures available, the bond market was active on Monday with 67 deals worth GHs 129.798m compared to GHs 64.417m on Thursday before Friday Holiday in Ghana.

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