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20% 11.6% 13.3% +49.3% MONTHLY MARKET REPORT – NOVEMBER 2017 Fund Management Investment Advisory Services Pension Management DOING IT RIGHT! INFO: +233 (0) 50 1453564 Market Report - November 2017 by Pent Assets Research Foreign Exchange Market of the month’s target of 4.4 billion cedis, compared to the previous month’s issue of 97 Increased demand for foreign currencies, percent of 4.3 billion cedis target. The 91-day particularly by importers, during November bill constituted the highest share of issued FAST FACTS exerted a considerably high pressure on the securities with 77 percent. Ghana cedi. The currency lost 0.8 percent m/m against the US dollar, 2.8 percent against the Equities Market British Pound and 3.1 percent against the The stock market was bullish in November. 20% Euro. Overall, the performance of the cedi in The benchmark GSE Composite Index gained Monetary Policy Rate 2017 as at close of November stood at 4.8 160.19 points [6.8 percent] to close the month percent depreciation, 12.9 percent at 2521.67 points, yielding a year-to-date depreciation and 15.6 percent depreciation return of 49.3 percent. Market capitalization versus the US dollar, British Pound and the rose 0.8 percent to 58.50 billion cedis. 11.6% Euro, respectively. See the table below. Consumer Inflation Interbank Foreign Exchange Nov-2017 Month Chg. (%) YTD Chg. (%) USD/GHS 4.4122 -0.8% -4.8% GBP/GHS 5.9638 -2.8% -12.9% EUR/GHS 5.2572 -3.1% -15.6% 13.3% negative (-) refers to "depreciation" 91-Day T-Bill Yield Government Securities Movement of yields on government of Ghana short-term treasury securities were generally +49.3% mixed. The 91-day bill gained 10 basis points Overall, the market recorded 8 gainers and 10 YTD Return – GSE Composite Index (bps) to close the month at 13.34 percent per losers during the month. ADB, SCB and UNIL annum, yielding a year-to-date decline of 309 were the top gainers with 47.3 percent, 22.4 bps whereas the 182-day bill lost 20 bps to percent and 20.8 percent m/m gains, respectively. MLC, ETI and SIC were the top 13.86 percent per annum. Yield on 1-year note -4.8% remained flat at 15.00 percent. See the table losers with 33.3 percent, 11.1 percent and 10.0 USD/GHS YTD Performance percent losses, respectively. See the table below. Treasury Securities below. Month Chg. YTD Chg. Top Winners (November 2017) Nov-2017 (bps) (bps) Price Gain % Chg. +20.3% 91-Day T-Bill 13.34% 10 -309 Agricultural Development Bank 5.64 1.81 47.3% Pent RISave Annualized Yield Bill 13.86% -20 -378 Standard Chartered Bank Gh. Ltd. 24.00 4.40 22.4% 1-Yr Note 15.00% 0 -600 Unilever Ghana Ltd. 12.80 2.20 20.8% Losers (November 2017) FOR MORE INFORMATION Overall, demand for treasury securities Price Loss % Chg. weakened during the month. The government Mechanical Lloyd Co. Ltd. 0.06 -0.03 -33.3% James Adjei Barimah (MBA, MA, BSc.) Ecobank Transnational Inc. 0.16 -0.02 -11.1% Research Analyst | Mobile: 020 671 4756 issued 74 percent (i.e. approx. 3.3 billion cedis) SIC Insurance Company Ltd. 0.09 -0.01 -10.0% Email: [email protected] MONTHLY MARKET REPORT – NOVEMBER 2017 2 Annex: Equities Share Closing Price (GHS) Closing Price (GHS) Month/Month Year-to-Date Return ISIN Name Code November 30 October 31 Return (%) (November 30) GH0000000615 AngloGold Ashanti Depository Shares AADS 0.48 0.48 0.00% -7.69% GHEABGO43772 Access Bank Ghana PLC ACCESS 4 3.91 2.30% -2.44% GH0000000193 African Champion Ltd ACI 0.01 0.01 0.00% 0.00% GHEADB043726 Agricultural Development Bank ADB 5.64 3.83 47.26% 47.26% GH0000000607 AngloGold Ashanti Ltd. AGA 37 37 0.00% 0.00% GH0000000037 Aluworks Ltd. ALW 0.16 0.16 0.00% 14.29% GH000000000672 Ayrton Drug Manufacturing Ltd. AYRTN 0.1 0.1 0.00% -16.67% GH000000000581 Benso Oil Palm Plantation BOPP 6.05 6 0.83% 190.87% GH000000000649 Cal Bank Ltd CAL 1.05 1.05 0.00% 40.00% GH0000000573 Clydestone (Ghana) Ltd. CLYD 0.03 0.03 0.00% 0.00% GH0000000227 Camelot Ghana Ltd. CMLT 0.11 0.11 0.00% -8.33% GH0000000540 Cocoa Processing Co. Ltd. CPC 0.02 0.02 0.00% 0.00% GH0000000680 Ecobank Ghana Ltd. EGH 7.55 7.59 -0.53% 17.97% GH0000001001 Enterprise Group Ltd. EGL 3.83 3.96 -3.28% 59.58% TG0000000132 Ecobank Transnational Inc. ETI 0.16 0.18 -11.11% 60.00% GH0000000078 Fan Milk Ltd. FML 18 19.39 -7.17% 61.58% GH0000000094 GCB Bank Ltd. GCB 4.5 4.21 6.89% 26.40% GH0000000102 Guinness Ghana Breweries Ltd. GGBL 2.06 1.75 17.71% 26.38% ZAE000060067 NewGold GLD 38.8 38.8 0.00% 0.00% GH0000000722 Ghana Oil Company Ltd. GOIL 2.67 2.5 6.80% 142.73% GH0000000748 Golden Star Resources Ltd. GSR 1.9 1.9 0.00% -2.56% GH0000000631 Golden Web Ltd GWEB 0.01 0.01 0.00% 0.00% GH0000000110 HFC Bank (Ghana) Ltd. HFC 1.39 1.39 0.00% 85.33% GH0000001233 Hords Ltd HORDS 0.1 0.1 0.00% 0.00% GH0000001258 Intravenous Infusions Ltd. IIL 0.09 0.09 0.00% 0.00% GH0000000118 Mega African Capital Ltd MAC 5.98 6 -0.33% -0.33% GH0000000136 Mechanical Lloyd Co. Ltd. MLC 0.06 0.09 -33.33% -60.00% GH0000001217 Meridian Marshalls Holding Company MMH 0.11 0.11 0.00% 0.00% GH0000000169 PBC Ltd. PBC 0.06 0.06 0.00% 0.00% GH0000000151 Pioneer Kitchenware Ltd. PKL 0.05 0.05 0.00% 0.00% GH0000000177 PZ Cussons Ghana Ltd. PZC 0.2 0.2 0.00% -9.09% GH0000001183 Samba Foods Ltd. SAMBA 0.65 0.65 0.00% -9.72% GH0000000185 Standard Chartered Bank Gh. Ltd. SCB 24 19.6 22.45% 97.04% GH0000000664 Standard Chartered Bank Pref. Shares SCB PREF 1.2 1.2 0.00% 60.00% GH0000000730 SIC Insurance Company Ltd. SIC 0.09 0.1 -10.00% -25.00% GH0000000201 Societe Generale Ghana Ltd. SOGEGH 0.75 0.76 -1.32% 20.97% GH0000000623 Starwin Products Ltd. SPL 0.03 0.03 0.00% 0.00% GH0000000516 Sam Woode Ltd. SWL 0.05 0.05 0.00% 25.00% GH0000000532 Trust Bank Gambia Ltd TBL 0.35 0.35 0.00% 34.62% GH0000001050 Tullow Oil Plc TLW 17.2 17.3 -0.58% -36.01% GH0000000144 Total Petroleum Ghana Ltd. TOTAL 3.5 3.65 -4.11% 76.77% GH0000000706 Transaction Solutions (Ghana) Ltd. TRANSOL 0.03 0.03 0.00% 0.00% GH0000000219 Unilever Ghana Ltd. UNIL 12.8 10.6 20.75% 50.41% Sources: Bank of Ghana, Ghana Stock Exchange, Ghana Statistical Service and Doobia. Disclaimer: This report is for general information purposes only and is not intended as a recommendation or an offer or solicitation for the purchase or sale of any security. Any person considering an investment should consider the appropriateness of the investment having regard to their objectives, financial situation, or needs, and should seek independent advice on the suitability or otherwise of a particular investment. .
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