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UT Bank makes gains on Stock Market

Business and Economics

Accra, March 30, GNA – The UT Bank gained 25 per cent at the mid-week transaction on the Ghana Stock Exchange to close at GHc0.05 per share whilst the GCB Bank inched up by 0.7 per cent to close at GHc5.22 per share.

    The SCB Bank also gained 0.1 per cent to close at GHc15.45 and the Ghana Oil Company Limited (GOIL) edged by 2.5 per cent to close at GHc1.24 per share, Nordea Capital Investment Stock Market analysis made available to the Ghana News Agency in Accra, on Thursday indicated.
     According to the Nordea Capital Investment Stock Market expert, the mid-week session recorded activities in 13 equities with six price changes in an advance to decline ratio of 4:2; but the magnitude of losses was enough to send both indices southwards.
    The benchmark GSE-Composite Index dipped by 0.3 per cent to close at 1,888.9 points; likewise the GSE-FSI also shed 0.6 per cent to close at 1,798.6 points.
    The laggards were CAL (-15.0 per cent) to GHc0.68 per share whilst Societe Generale experienced a block trade in its shares, it dipped by 1.3 per cent to GHc0.76 per share.
    Volume traded was 2,239,907 shares which were valued at GHc2,172,746.89.
    The Nordea Income Growth Fund is priced at GHc0.3019 with a year-to-date return of 9.82 per cent.
    On the interbank market, the Ghana Cedi lost against all three of its major trading currencies; it shed 0.02 per cent against the U.S. Dollar at a mid-rate of GHc4.3369; dropped by 1.1 per cent against the Euro at a mid-rate of GHc4.6612; and dipped by 0.9 per cent against the GBP at a mid-rate of GHc5.3800.
     Nordea Capital is an investment bank, licensed by the Securities and Exchange Commission and offers 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 dedicated to growing and preserving client assets and building trust, in partnership with financial professionals and institutions worldwide.
    The GSE is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990.
    It currently lists 42 equities from 37 companies and two corporate bonds. All types of securities can be listed.
    Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency.

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