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Business News of Friday, 26 September 1997

Source: --

At The Stock Exchange

Accra,(Greater Accra Region) 24, Sept. The Ghana Stock Exchange (GSE) All-Share Index made a slight climb on Wednesday despite a heavy fall in the share price of Ashanti Goldfields Company (AGC), the bourse's largest blue chip, but on low volume as five other equities made gains. The market index with a gain of 1.32 points was 440.39 points, up from Monday's close of 439.07 points. Shares which exchanged hands in mid-week trading stood at 37,780, slightly improved from Monday's meagre 19,000 while offers continued to trail bids at 498,270 to 7.8 million. Market capitalisation closed at 2,742.09 billion cedis, down from a previous 2,771.81 billion cedis. On the broader market, there were six price movements, five gains and a loss. Mobil Oil Ghana Limited (MOGL) led market gainers by 75 cedis to finish at 6,100 cedis followed by Ghana Commercial Bank (GCB) which made 10 cedis to close at 710. The gain in GCB share price is the third in a row. Guinness Ghana Limited (GGL) and Fan Milk Limited (FML) ended seven cedis and three cedis richer to close at 435 cedis and 425 cedis respectively. Pioneer Tobacco Company (PTC) made two cedis to close at 370 cedis. AGC was the only loser, losing 300 cedis in trading to finish at 19,900. The remaining equities mainatained their last closing prices. The following are the last prices of listed equities quoted in cedis:

ABL 655 AGC 19,900 -300 ALW 1,500 CFAO 39 EIC 590 FML 425 +3 GCB 710 +10 GGL 435 +7 HFC 172 KBL 865 MGL 175 MLC 187 MOGL 6,100 +75 PAF 156 PTC 370 +2 PZ 330 SCB 7,120 SPPC 110 SSB 1,430 UNIL 940 UTC-E 105