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Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 28th May, 2015 ACCRA BOURSE SOARS, DESPITE…! STOCK MARKET The excitement on the Ghana Stock Exchange (GSE) increased INDICATORS WEEK WEEK END CHANGE last week, as appetite for capital market investment improved. OPEN Indeed, recent corporate actions like the increases in petroleum Market Capitalization products and the worsening of the local currency were looked (GH¢'million) 64,440.64 64,575.13 0.21% upon to thwart market performance, however, the contrary was Market Capitalization (US$'million) 16,499.13 16,305.20 -1.18% true as players appeared unperturbed of current happenings, intensifying their bets on shares. Volume traded (shares) 2,590,114.00 1,395,992.00 -46.10% Shares of Ecobank Ghana Limited (EBG), Total Petroleum Value Traded (GH¢) 2,089,785.25 2,293,571.34 9.75% Ghana Limited (TOTAL), Enterprise Group Limited (EGL), Fan Value Traded (US$) 535,060.36 579,126.18 8.24% Milk Limited (FML) and Aluworks Limited (ALW) were the most Table 1: Market Summary sought after in the week. INDEX ANALYSIS In the end, all the major market indicators went up; with the INDICATORS Closing Week YTD GSE-CI closing last Thursday’s trading at 2,362.28 points, Level Change CHANGE representing a year-to-date change of 4.48% whilst the GSE- FSI also settled at an annual yield of 7.96% to close the week GSE Composite Index 2,362.28 1.06% 4.48% at 2,422.33 points. Also, the SIC-FSL Top 15 index (SIC-FSL T- SIC-FSL Top 15 Index 4,476.58 0.70% 13.53% 15) which measures the performance of liquid equities, posted the biggest returns on the market last week, closing at GSE Financial Stocks Index 2,422.33 1.25% 7.96% 4,476.58 points, which represented a return of 13.53%. Table 2: Key Stock Market Indices LIQUIDITY In relation to the reduced number of trading days following the holiday that accompanied the “Africa Union (AU)” celebration, total shares traded declined heavily last week. A total of 1.40 million shares exchanged hands which meant a drop by 46.10% in the previous week level. However, corresponding value traded increased from the previous GH¢2.09 million to GH¢2.29 million. In all, 22 out of the 35 listed companies were active last week. Guinness Ghana Breweries Limited (GGBL) recorded the highest trades with Fig 1: Year -to -date returns respect to volume and value. GGBL contributed 31.53% of total shares traded, and this was valued at GH¢1.41 million. MARKET MOVERS Wk Open Wk End Change STOCK % TICKER change Search for EBG shares intensifies ALW 0.05 0.07 0.02 40.00% Investors’ appetite for Ecobank Ghana (EBG) shares increased, as the EBG 8.62 9.02 0.40 4.64% hunt for holding position in the bank pushed price further up last week, from the previous GH¢7.60 to a new record price of GH¢9.02 per EGL 1.65 1.80 0.15 9.09% share. Truly, the confidence investors have in the Bank appeared to be growing week-on-week, perhaps in line with better-than-expected FML 5.33 5.37 0.04 0.75% first quarter financial results (Q1’15). GOIL 1.19 1.22 0.03 2.52% The bank posted an improvement of 28.98% in Q1’15 over a similar SPL 0.02 0.03 0.01 50.00% period last year, touching GH¢91.04 million according to the statement. This sterling performance by the Bank appeared to be SOGEGH 0.94 0.95 0.01 1.06% behind EBG’s recent hike in price, pushing up the Bank’s value last TOTAL 5.64 5.92 0.28 4.96% week. UTB 0.17 0.18 0.01 5.88% In fact, the prospect of higher price discovery still remains bright, as shareholders demand higher value from prospecting buyers. Table 3: Gainers for the week TOTAL trims-down losses The oil-marketing giant; Total Petroleum Ghana Limited (TOTAL) STOCK Wk Open Wk End Change % ended the week as the second best price gainer on the exchange. TICKER change TOTAL recorded a 28-pesewas rise in absolute value to trim-down its GCB 5.21 5.14 -0.07 -1.34% year-to-date losses from the previous 7.54% to 2.95% last week. The stock closed trading at GH¢5.92 per share. PKL 0.06 0.05 -0.01 -16.67% The rise appeared to have been fan by the company’s Q1’15 results. SCB 20.20 20.12 -0.08 -0.40% TOTAL posted a profit of GH¢14.43 million in Q1’15 compared to the Table 4: Laggards for the week GH¢6.82 million recorded in Q1’14. In line with the above, investors’ expectations appeared to have been whipped up, hence the rush to consolidate their holding positions. CORPORATE NEWS SAM-WOODE LIMITED (SWL) ANNOUNCES DIVIDEND PAYMENT: Management of SWL has proposed a dividend payment of GH¢0.004 to shareholders in respect of the 2014 financial year. In view of the above, any investor who buys SWL shares before Friday, June 5, 2015 will be entitled to the dividend payment. The proposed payment date will be Friday, July 24, 2015. On the other hand, the company will hold this year’s AGM at the GNAT Head Office, Accra on Thursday, June 11, 2015 at 10:00 am prompt. COCOA PROCESSING COMPANY LIMITED (CPC) TO HOLD ANNUAL GENERAL MEETING: Management of CPC has scheduled this year’s Annual General Meeting (AGM) for 17th June, 2015. The meeting will take place at Fig 2: Top 5 most liquid equities with respect to volume traded the Accra International Centre, Accra, at exactly 10:00 am prompt. MECHANICAL LLOYD LIMITED (MLC) ANNOUNCES ANNUAL GENERAL MEETING (AGM): MLC has scheduled Tuesday, 16th June, 2015 for its 23rd Annual General Meeting (AGM) to be held at the Ghana College of Physicians and Surgeons, Accra at 11:00 am prompt. The agenda of the business will include the following: receive and consider the reports of the Directors and the Auditors and accept the full year 2014 financial results, re- election of Directors and authorizing Directors to fix the remuneration of the Auditors. Stock Ticker Year Opening Closing Price @ YTD Gain/Loss (%) Price(GH¢) 28/05/2015 (GH¢) African Champion Industries Ltd. ACI 0.02 0.02 0.00% AngloGold Ashanti Ltd. AGA 37.00 37.00 0.00% Aluworks Limited ALW 0.02 0.07 250.00% Ayrton Drug Manufacturing Ltd. AYRTN 0.18 0.18 0.00% Benso Oil Palm Plantation BOPP 4.10 5.00 21.95% Cal Bank Ltd CAL 1.01 1.08 6.93% Clydestone (Ghana) Ltd. CLYD 0.03 0.03 0.00% Camelot Ghana Ltd. CMLT 0.12 0.12 0.00% Cocoa Processing Co. Ltd. CPC 0.02 0.01 -50.00% Ecobank Ghana Ltd. EBG 7.60 9.02 18.68% Enterprise Group Limited EGL 1.75 1.80 2.86% Ecobank Transnational Inc. ETI 0.28 0.36 28.57% Fan Milk Ltd. FML 5.25 5.37 2.29% Ghana Commercial Bank Ltd. GCB 5.30 5.14 -3.02% Guinness Ghana Breweries Ltd. GGBL 3.20 3.20 0.00% Ghana Oil Company Limited GOIL 1.05 1.22 16.19% Golden Star Resources Ltd. GSR 2.34 2.34 0.00% Golden Web Ltd. GWEB 0.03 0.02 -33.33% HFC Bank (Ghana) Ltd. HFC 1.50 1.70 13.33% Mega Africa Capital Ltd MAC 4.50 5.50 22.22% Mechanical Lloyd Co. Ltd. MLC 0.28 0.18 -35.71% Pioneer Kitchenware Ltd. PKL 0.06 0.05 -16.67% Produce Buying Company Ltd. PBC 0.12 0.12 0.00% PZ Cussons Ghana Ltd. PZ 0.30 0.24 -20.00% * Standard Chartered Bank (GH) Ltd. SCB 20.35 20.12 -1.13% SIC Insurance Company Ltd. SIC 0.37 0.20 -45.95% Starwin Products Ltd. SPL 0.02 0.03 50.00% Societe Generale Ghana Limited SOGEGH 1.00 0.95 -5.00% Sam Woode Ltd. SWL 0.04 0.04 0.00% Trust Bank Ltd. (The Gambia) TBL 0.24 0.24 0.00% Total Petroleum Ghana Ltd. TOTAL 6.10 5.92 -2.95% Transaction Solutions (Ghana) Ltd. TRANSOL 0.03 0.03 0.00% Tullow Oil Plc TLW 34.99 33.00 -5.69% Unilever Ghana Ltd. UNIL 10.70 7.50 -29.91% UT Bank UTB 0.25 0.18 -28.00% AngloGold Ashanti Depository Shares AADS 0.52 0.52 0.00% Standard Chartered Bank Preference shares SCB PREF 0.58 0.69 18.97% NewGold Exchange Traded Fund GLD 35.80 35.80 0.00% Samba Foods Ltd SAMBA 0.73 0.73 0.00% Table 5: Performance of listed equities from year open CURRENCY MARKET CEDI REMAINS UNDER PRESSURE EXCHANGE RATES BUYING SELLING YTD Trading on the currency market failed to favour Ghana’s local CHANGE currency as one of its major trading partners, the Dollar, forestalled USDGHS 3.9584 3.9624 23.76%▼ the Cedi from further trimming its loss on the interbank market. GBPGHS 6.0635 6.0708 21.85%▼ The Cedi lost 0.59% of its composite value, despite the gains it recorded versus the Euro and the Pound. Thus, the Cedi continue to EURGHS 4.3110 4.3156 10.72%▼ linger in red in terms of its yield since the year begun cumulating to 19.33% from previous 18.63%.
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