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Business News of Friday, 16 July 2004

Source: GNA

Accra Bourse bounces back after two dull sessions

Accra, July 16, GNA - Strong performance of share prices on the Ghana Stock Exchange on Friday enabled the bourse to reverse its downward slide suffered at the two previous trading sessions, buoyed by huge gains of Standard Chartered Bank and Unilever Ghana Limited. The GSE All-Share Index, the benchmark measure of market activities on the Exchange, rallied 12.18 points to close at 7,070.07 from 7,057.89 points.

Change for the year to date shot up at 98.97 per cent. Total shares traded, however, fell again to close at 277,600 shares compared to 318,800 shares on Wednesday.

Market capitalisation went up slightly at 97,098.44 billion cedis up from 96,991.72 billion cedis from 3,380.21 million issued shares at the previous close.

On the broader market, there were six positive price changes. Standard Chartered Bank led the pack with a 2,000 cedis gain to close at 100,000 cedis, Unilever Ghana Limited gained 1,000 cedis at 25,500 cedis, and Clydstone went up by 80 cedis at 1,000 cedis.

Other equities that saw gains were Pioneer Aluminium Factory, which made 30 cedis at 800 cedis, Guinness Ghana Limited, was also up by 30 cedis at 12,750 cedis while gained three cedis at 118 cedis.

Enterprise Insurance Company issued 20,453,564 bonus shares to the existing shares to bring the total 25,556,955 shares. The additional shares are as a result of bonus issue of four new shares to one existing share. Accordingly, EIC new share price of 3,612 cedis reflects the bonus issue.

The following are the last prices of listed equities in cedis:

ABL 1,300 AGA 300,000 AADs 3,006 ALW 12,200 BAT 7,800

CFAO 118 +3

CLYD 1,000 +80 CMLT 780 CPC 1,950 EIC 3,612 FML 8,000 GBL 1,500 GCB 17,000 GGL 12,750 +30 HFC 10,100 MGL 275 MLC 3,100 MOGL 42,110 PAF 800 +30 PBC 3,600 PZ 3,650

SCB 100,000 +2,000 SPPC 390 SG-SSB 31,752 SWL 290 TBL 31,500 UNIL 25,500 +1,000

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