Stocks Make Strong Rally

Stocks made a strong rally at the Ghana Stock Exchange

(GSE) today pushing market indicators up.

The GSE All-Share Index jumped 3.77 points to close mid-week trading on a

new high of 494.41 points against Monday's close of 490.63 points.

Total volume of shares traded was up 77,270 shares, up from 55,080.

Shares on demand were 16.5 million compared to offers of 497,970. Analysts

say this trend shows the level of investor interest in the market.

Market capitalisation, bolstered by a significant rise in share prices, went

up to 2,940.34 billion cedis, slightly higher than the previous figure of

2,929.48 billion cedis.

On the broader market, five equities appreciated without a loss.

Mobil Oil Ghana Limited (MOGL) led the pack with a significant 950-cedi

gain to close trading at 7,700 cedis, while Aluworks (ALW) gained 100 cedis to

finish at 2,500 cedis.

Ashanti Goldfields Company (AGC) was 50 cedis richer at 20,950 cedis

following relative stability in world gold price which was between 314 and

314.50 dollars yesterday.

Enterprise Insurance Company was up 25 cedis to end at 715 cedis while Accra

Brewery Limited (ABL) went up by five cedis to close at 700 cedis.

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

ABL 700 +5

AGC 20,950 +50

ALW 2,500 +100

CFAO 38

EIC 715 +25

FML 525

GCB 718

GGL 646

HFC 200

KBL 965

MGL 175

MLC 195

MOGL 7,700 +950

PAF 170

PTC 390

PZ 329

SCB 7,370

SPPC 145

SSB 1,692

UNIL 940

UTC-E 105

The Cedis keep making marginal gains over the dollar but it goes up and down

against the pound sterling due to fluctuating demand for the pound. This

morning it traded between ?2,550.00 and ?2,750.00 to the dollar. Against the

pound sterling it went between ?3,570.00 and ?3,610.00 whiles the Deutsche Marks

was traded between ?1,270.00 and ?1310.00. The rate of the cedi against the

other foreign currencies is:

BUYING SELLING

CFA 3700.00 3800.00

French Francs 350.00 380.00

Swiss Francs 1400.00 1500.00

Dutch Guilders 1150.00 1200.00

Canadian Dollar 1400.00 1500.00

Japanese Yen 14.00 17.00

TEWU Will Disrupt SSS Exams Unless