Stocks Close On A New High

Accra,(Greater Accra Region) 10 Oct. The GSE All-Share Index for the fourth week in a row closed at a new high confirming analysts view that the market is on the upbeat. The market index rose again at the close of active trading today going up by 2.92 points to settle at 466.27 points. It last closed at 463.35 points. Volume of shares traded rose to 272,530 up from Wednesday's close of 224,010. Overall number of shares offered - 680,700 - trailed that of bids which was pegged at 28,845,020. Market capitalisation appreciated to 2,885.39 billion, an improvement on the previous close of 2,860.05 billion cedis. On the broader market, eight equities had upward price movements. There were no losses. Depsite a fall in the price of gold on the London Stock Exchange this morning to 327 dollars from yesterday's 332 dollars, Ashanti Goldfields Company (AGC) led the pack once more for the third time this week by 200 cedis to close an eventful week at 20,900 cedis. The equity is, in addition, in high demand. Investors demanded 10,200 shares but only 4,500 was supplied, with 3,000 being sold eventually. Mobil Oil Ghana Limited (MOGL) which paid the highest dividend per share during the last financial year, was second, going up 90 cedis to finish at 6,300 cedis. MOGL was also in high demand as only 200 shares were supplied out of the 29,000 demanded. Aluworks was up 50 cedis to close the week stronger at 1,900 cedis. Enterprise Insurance Company (EIC) gained 20 cedis to end at 650 cedis while Guinness Ghana Limited (GGL) was richer by 15 cedis to close at 505 cedis. The other gainers were Fan Milk Limited (FML) and Accra Brewery Limited (ABL) which gained six cedis and five cedis each to finish at 480 cedis and 670 cedis respectively. Standard Chartered Bank (SCB) gained 30 cedis to close at 7,180 cedis. The following are the last prices of listed equities quoted in cedis:

ABL 670 +5 AGC 20,900 +200 ALW 1,900 +50 CFAO 40 EIC 650 +20 FML 480 +6 GCB 710 GGL 505 +14 HFC 172 KBL 950 MGL 175 MLC 187 MOGL 6,300 +90 PAF 154 PTC 395 PZ 330 SCB 7,180 +30 SPPC 110 SSB 1,650 UNIL 940 UTC-E 105