Business News of Tuesday, 24 October 2017
Source: Databank Research
Market indices hold steady
Net income increased by 25% to GH
The equities market recorded a lull in trading activity today due to a system failure of the GSE’s automated trading system.
The Ghana Stock Exchange’s Composite Index closed flat at ~2,315 points while the Databank Stock Index held steady at ~29,771 points.
The year to date returns of the GSE-CI and Databank Stock Index still stand at 37.06% and 33.31% respectively while market capitalization stood unchanged at ~GH¢58.2 billion.
A total of 21,262 shares were exchanged across 3 counters with no price change recorded.
The day’s trades were valued at GH¢5,875.56.
Investor patronage was geared towards Intravenous Infusions Ltd, which accounted for 94% of total volume traded today.
Earnings update
CAL Bank published Q3-2017 financial results today.
Revenues improved by 13.54% to GH¢573.3 million compared to GH¢505.3 million in Q3-16.
Net income increased by 25% to GH¢113.6 million compared to GH¢90.9 in Q3-16.
