JAN 15, 2019: GHANA: WAVE OF NEW HIGHS

There was a clear wave of New Year high prices at the Ghana Stock  Exchange on Tuesday  January  15, 2019 as out of 4 price changes  recorded,  all were not only upwards 3 resulted in new highs. 

The top price gain and also a New Year high was GHs 0.05 per share by Societe Generale  to GHs 0.82 per share.  Only 100 units of its shares were traded and they were at the new price compared to GHs 0.77 per share on Monday. However bid price closed the day at old live. 

CAL Bank also hit a New Year high.  In deals involving  exchange  of only 200 units the last deal recorded was done at GHs 1.03 per share but CAL Bank ended up closing the day at GHs 1.02 per share. 

This though was still a healthy GHs 0.03 per share top up Monday's  GHs 0.99 per share. No more deals could be struck because  bid price closed  at GHs 1 per share. 

The other new high on record for the day was by Ghana Commercial  Bank which closed at its last deal price of GHs4.47 per share,  up GHs 0.01 on Monday's  GHs 4.46 per share.  At close though both bid and offer prices were further apart at GHs 4 and 5 per share respectively. 

The 4th price change that ended with no new high was SIC Insurance 's GHs 0.03 per share with last deal for 200 units exchanged  was struck at GHs 0 25 per share compared  to previous  day's GHs 0.22 per share 

Ecobank Transnational  Incorporated  did not end the day with new high but not for lack of opportunity.  It recorded the highest trading volume  of 150,800 shares but with last deal at GHs 0.18 per share.  

However,  ETI went on to close at firm GHs 0.16 per share and what's more,  bid price dropped further to GHs by the day's  end with no new  deals. 

Naturally,  the Ghana composite  index closed up 6.25 points at 2561.63 compared to 2567.88 on Monday. 

Traded volume  increased too from Monday's  128,819 shares to 182,882 by Tuesday. 

Meanwhile,  the exchange  delayed Pioneer  Kitchenware Limited from Monday January  14 for its inability  to come back on stream again by December  2018 deadline. 

On the other hand the suspension  placed on Aluworks Limited and Cocoa  Processing Company Ltd  was lifted  after CPC met outstanding  requirements  and after Aluworks  convinced the exchange  on new operation  restructuring  plans. 


Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more