Amid the novel coronavirus, returns on Ghana’s petroleum funds has declined by 23.48 percent for the first half of 2020 from the income accrued during the same period of 2019.According to the semi-annual report on the Petroleum holding fund, for first half of 2020, the Ghana Petroleum Funds returned a net realized income of US$8.57 million compared to US$11.20 million in the same period 2019.The...
The benchmark index closed the week 14.87 points (+0.80%) higher on the back of two banking and telecom counters at 1,877.64 with a -16.81% year-to-date return while the market capitalization increased by 0.29% to close at GH¢52.72 billion.
CAL Bank (+7.69%) pushed the GSE Financial Index up by 5.57 points (+0.32%) to close at 1,730.78 with a -14.30% year-to-date return while the SAS Manufacturing Index recorded no gains or losses, closing at last week’s level of 2,581.74 with a year-to-date return of -25.84%.
MTN Ghana (+1.79%) summed up this week’s gainers’ chart.
Trading activity waned as 233,527 shares valued at GH¢298,698 changed hands compared to 32,772,544 shares valued at GH¢19,513,304 last week.
MTN Ghana dominated trades by volume accounting for 29.78% of the total volume traded while GCB Bank dominated trades by value, accounting for 36.24% of the total value traded.
We expect trading activity to pick up as investors take advantage of bargain stocks.