GCB Bank/Fan Milk pushes Stock Market upward

 

 

Fan Milk Limited, a leading manufacturer of ice cream and yoghurt, and a significant player in the fruit drinks market, and the GCB Bank Limited ascribed as the second largest bank in Ghana by net profit and total assets pushed trading on the Ghana Stock Exchange (GSE) upward. In all 1,017,513 shares exchanged hands and these were valued at 7,142,561.81, Nordea Capital Investment Stock Market watchers analysis obtained by CDA Consult in Accra indicated.

GCB and Fan Milk’s block trades helped pushed both indices further north as four equities gained with two losers; in effect the benchmark GSE-Composite Index rose by 0.7 per cent to close at 2,244.2 points.

According to the Nordea Capital Investment Stock Expert, Fan Milk gained 4.7 per cent to close trading session at GH₵15.49 per share whilst GCB moved up by 1 per cent to end the session at GH₵5.20 per share.

The nation’s foremost indigenous oil marketing company Ghana Oil Company Limited, also known simply as GOIL, climbed up by 0.9 per cent to close at GH₵2.22 per share and Standard Chartered Bank Ghana, a banking and financial services company also edged by 0.04 per cent to close at GH₵26.21 per share.

The laggards were Guinness Ghana Breweries Limited the leading total Beverage Business in Ghana with an outstanding collection and the only beverage business listed on the Ghana Stock Exchange dipped by 0.7 per cent to end the day at GH₵1.42 per share.

The other laggard for the day, Ecobank Ghana also slipped by 0.3 per cent to close the session at GH₵6.98 per share. The Nordea Income Growth Fund is priced at GH₵0.3517 with a Year-to-date return of 27.94 per cent.

Nordea Capital is an investment bank licensed by the Securities and Exchange Commission (SEC) offering a comprehensive range of services in asset management, research and strategy, corporate finance and private equity to institutional, corporate and private clients.

Nordea Capital is dedication to growing and preserving client assets and building trust, in partnership with financial professionals and institutions worldwide.

Nordea Capital develops investment products that are relevant to the market and that we believe are designed to produce consistent, competitive investment performance. The GSE is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990.

Communication for Development and Advocacy Consult (CDA Consult) provides tailor made development communication tools necessary for operational transformation and translating dreams into achievable goals and equips clients with mechanism for public education on specific issues.

It also provides effective back-up or frontline monitoring and evaluation tools to ensure value for money delivery of projects, whilst providing clients with skills to deliver timely and accurate information on their activities, work, programmes and projects.

CDA Consult is also aimed at building a responsive working culture for corporate growth through a social process at institutional levels based on dialogue using a broad range of tools and methods.

It also assists client to use continuous and adaptive process of gathering, organising and formulating information and data into argument and  to communicate to policy-makers through various interpersonal and mass media communication channels.

 

 

Source: CDA Consult

The Republic News Online

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