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Business News of Thursday, 9 October 1997

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At The Stock Exchange

Accra, (Greater Accta) 8, Oct. Trading on the Ghana Stock Exchange (GSE) continued its positive trend but on a reduced volume. The GSE All-Share Index sustained its climb, going up 2.02 points to fix midweek trading at 463.35 points against the week's opening figure of 461.33 points. The market indicator hit an all-time high of 461.33 points on Monday, rising by almost four points. Volume of shares traded, devoid of major block trading which has been the mode of the market in recent times, dropped to 224,010. Overall shares demanded stood at a high of 7,746,330 compared to the low offers of 724,980 shares. Market capitalisation also rose marginally to 2,860.05 billion cedis being the cost of 935.26 million issued shares of 21 listed companies. On the broader market, there were five upward price movements. There were no losses. Ashanti Goldfields Company (AGC) led the gainers. It went up by 200 cedis to close at 20,700 cedis while Standard Chartered Bank (SCB), went up 20 cedis to finish at 7,150 cedis. The other gainers were Accra Brewery Limited (ABL), Fan Milk Limited (FML) and Ghana Commercial Bank (GCB). They gained five cedis, nine cedis and 10 cedis to finish at 665 cedis, 474 cedis and 710 cedis respectively. The following are the last prices of listed equities quoted in cedis:

ABL 665 +5 AGC 20,700 +200 ALW 1,850 CFAO 40 EIC 630 FML 474 +9 GCB 710 +10 GGL 490 HFC 172 KBL 950 MGL 175 MLC 187 MOGL 6,210 PAF 154 PTC 395 PZ 330 SCB 7,150 +20 SPPC 110 SSB 1,650 UNIL 940 UTC-E 105