Thursday, October, 30, 2014 Compiled by: Stephen Ampadu

Previous Session’s Market Close- Equities Economic News Economic News

‘Producer Price Inflation decreases’ Period GSE. C.I GSE F.I Mrk. Cap Volume Value ’s year-on-year Producer Price Index (PPI) fell to 46.7 per cent in ‘Gov’t and Banks strike accord on new (GHS) Traded Traded September as compared to the August rate of 48.3 percent. Mr. VAT charges’ Anthony Amuzu, Chief Statistician and Director of Surveys and Today 2,244.15 2,186.79Banks 64,674 have not to1,030,023 charge VAT5,224,969 on Census Organisation of Ghana Statistical Service, at a media briefing salaries, savings, deposits, in on Wednesday gave a provisional figure of 1.2 per cent as the Previous 2,222.54 2,157.22investments, 64,426 interests50,626 on loans.113,167 The month-to-month change in PPI from August 2014 and September %Chg. 0.97 1.37 agreement0.38 follows1934.57 an emergency4517.03 2014. Source: GNA Today meeting between the Ministry of Finance, Ghana Revenue Authority %Chg. 4.61 22.40 5.75 -42.13 -22.33 ‘Oil Workers Strike at Sea’ and the Ghana Association of Bankers Y-T-D Ghanaian workers of MODEC who operate on FPSO Kwame Nkrumah on the implementation of VAT on C.I – Composite Index at the Jubilee Oilfield in the Western Region have expressed financial services. There have been F.I – Financial Index dissatisfaction with the discrepancy between their salaries and some agitations among stakeholders Source: Merban Stockbrokers Ltd a Subsidiary of UMB benefits and that of expatriates. MODEC Ghana Limited is an offshore in the financial sectors as well as Source; facilities development and construction company that designed and customers of banks on the application Market Movement constructed the FPSO Kwame Nkrumah for the Jubilee partners. It is of the new VAT charge. Source: Equity Day Close Day open Gain/Loss(¢) Percent currently operating and maintaining the FPSO for the Jubilee Partners Citifmonline.com Change after they purchased it in 2011. Source: Daily Guide ‘Gov’t likely to avoid IMF bail- out- Corporate News UTB 0.26 0.25EIU’ 0.01 4.00 ‘UMB in 20-million-dollar loan facility deal’ GCB 5.29 5.10Government 0.19 is likely to3.73 hold off Universal Merchant Bank (UMB) and Ghana International Bank PLC, ETI 0.34 0.33mounting pressures0.01 to seek3.03 a bail out have entered into a 20-million-dollar loan facility that will boost SG-SSB 0.85 0.83from the International0.02 Monetary2.41 Fund medium-term financing for the corporate and SME sector in Ghana. BOPP 3.91 3.84(IMF) to lessen0.07 the burden 1.82of its fiscal The facility is a remittance-backed medium term loan with a three- Source: Merban Stockbrokers Ltdchallenge a Subsidiary in orderof UMB to favour its re- year tenure. UMB is one of Ghana’s leading indigenous and customer- election bid in the 2016 polls, the oriented banks, while Ghana International Bank PLC is a London- Top 5 Most Traded Equities forEconomi the Weekc Intelligence Unit (EIC) has based and wholly-Ghanaian owned financial institution. Equity Shares No.predicted. Of TheValue Finance of Minister,%tage Seth of Source: GNA Traded TransactionsTerkper, lastTrades month Total announced government (GHS) has not ruledValue out the ‘Blame Journalists for collapse of micro finance companies’ GCB 960,672 93.3possibility of 5,083,957 a bail-out from97.3 the IMF, The collapse of many micro financial institutions in the country has CAL 36,650 3.6saying that “If36,285 it becomes 0.7 necessary been attributed to negative reportage and false alarms by the media, ETI 17,827 1.7we’ll fall on the5,995 Fund”. Source:0.1 B&FT especially radio stations. According to the Managing Director of First SCB 3,245 0.3 60,853 1.2 Liberty Financial Services Limited, Odeneho Afram Brempong III, a UTB 2,500 0.2‘Central Bank650 measures not0.0 meant to number of micro finance schemes have gone into liquidation following Source: Merban Stockbrokers Ltdfrustrate a Subsidiary investors of UMB-Veep’ their inability to make payments to clients as a result of panic The Vice President, Mr. Kwasi withdrawals by customers, leading to their eventual collapse. This, he Interbank Exchange Rate AveragesAmissah -Arthur, says the recent argued, could be attributable to the false alarms sometimes raised by measures announced by the BoG are these radio stations. Source: The Chronicle Currency – Rate 29-Oct not Rat meante 28 to-Oct frustrate Y-T investors-D but Interbank rather aimed at reducing over Political News USD/GHS 3.1950 dollarization3.1950 of the economy.-32.35 The VP ‘Appoint Dan Botwe as Campaign Manager - Kweku Baako tells Nana GBP/GHS 5.1639 pointed5.1571 this out when-30.82 he hosted Addo’ EUR/GHS 4.0714 officials4.0636 of Sumitomo -Corporation26.65 and Editor-In-Chief of the New Crusading Guide Newspaper, Abdul Malik CHF/GHS 3.3754 Cen Power3.3700 in Accra last-2 7.76week. The two Kweku Baako has called on (NPP) Presidential entities are jointly working on ZAR/GHS 0.2929 0.2916 -29.57 candidate, Nana Akufo-Addo to appoint Dan Botwe as his campaign developing 340 megawatts

Manager. Mr. Baako believes the Okere Legislator would do a better independent power project at Kpone. On the currency front, the Cedi was under pressure today closing lower job than any of his contenders which newspapers reported are Source: Citifmonline.com against the major trading currencies; it however remained steady gunning for the position. Four persons – Stephen Ntim, Dr. against the Dollar. The Cedi failed to sustain gains against the Euro, it ‘Cedi in worst slump since 2000’ Mahamudu Bawumia, Boakye Agyarko and Dan Botwe – were shed 0.19% against the shared currency to close at GHS4.07. It also The Cedi’s dismal depreciation shows reported to have been earmarked for the position. depreciated by 0.13% against the Pound at an average rate of GHS5.16. Source: Adomonline little sign of abating, with the currency tumbling to record lows day after day in the interbank market and deepening the pain of households and businesses. Tagged as Africa’s worst-

performing currency in 2014, the Cedi’s 20.6 percent decline against the dollar in less than 5 months is the worst since 2000, when the currency was almost 50 percent to the dollar. At its current rate of depreciation- 0.3% every day on average – the cedi could hit a trough of 3 cedis to the dollar by