MONTHLY MARKET REVIEW www.pentassets.com [email protected] MAY 2018 +233 50 145 3564 MONTH'S HIGHLIGHTS: GSE Composite Index loses 9.2 percent in May amid Review of events waning investor confidence in the local bourse. in Ghana's Ghana cedi depreciates against the US dollar. financial market Consumer inflation inches up to 9.8 percent, from 9.6 during the month percent in April. of May 2018. Ghana Reference Rate (GRR) for May stood at 16.74 percent, from 16.82 in April. TREASURY SECURITIES FAST FACTS Current Yield Month Chg. YTD Chg. 17% 91-Day T-Bill 13.34% -1 bps -1 bps 182-Day T-Bill 13.87% -3 bps -1 bps MONETARY POLICY RATE 1-Year Note 15.00% 0 bps 0 bps Demand for treasury securities remained weak in May. The 9.8% Government raised approx 3.36 billion cedis, about 87 CONSUMER INFLATION percent of the month's target of 3.88 billion cedis. With 45 (MAY 2018) percent, the 91-Day T-Bill constituted the highest share of all issue followed by the 3-Year and 2-Year Notes with 22 13.34% percent and 19 percent, respectively. 91-DAY T-BILL RATE 3 Year Note 22% -0.16% USD/GHS YTD CHANGE 91 Day Bill 45% Current Exchange Rate YTD Change +22.8% 2 Year Note GSE COMPOSITE 19% INDEX YTD RETURN 1 Year Note 2% 16.74% 182 Day Bill 12% GHANA REFERENCE RATE (MAY 2018) INTERBANK FOREIGN EXCHANGE DISCLAIMER This report is for general The Ghana cedi weakened marginally against the US dollar information purposes only. during the month to close at 4.4226 cedis per US dollar. The currency depreciated by 0.33 percent, yielding a year-to- SOURCES: Bank of Ghana, Ghana date depreciation of 0.16 percent. Statistical Service, Ghana Stock Exchange. www.pentassets.com +233 50 145 3564 MONTHLY MARKET MAY 2018 REVIEW InJtUerNBEan 1k1 F,o 2re0i1g8n Exchange May 31, 2018 Month Chg. YTD Chg. The local currency appreciated against USD/GHS 4.4226 -0.33% -0.16% the Pound Sterling GBP/GHS 5.8865 +3.08% +1.36% and the Euro. EUR/GHS 5.1634 +3.24% +2.58% EQUITIES MARKET Equities - Performance Review (May 2018) Price (GHC) Gain/Loss The GSE Composite Index lost 9.2 percent GSE-CI 3,167.48 -9.2% in May to close at GSE-FSI 2,845.62 -11.1% 3,167.48 points, retreating year-to- MAJOR WINNERS Current Exchange Rate YTD Change date return to 22.8 Produce Buying Co. Ltd. 0.05 +25.0% percent. Market Aluworks Ltd. 0.09 +12.5% capitalization rose 3.7 PZ Cussons Ghana Ltd. 0.44 +4.8% percent to approx 63.66 billion cedis. Out of the 42 listed MAJOR LOSERS securities, the market Enterprise Group Ltd. 3.00 -27.5% recorded 10 gainers Cal Bank Ltd 1.45 -26.4% and 9 losers during Standard Chartered Bank Ltd. 26.00 -25.6% the month. Equities - YTD Performance Review Price (GHC) YTD Gain/Loss Overall, the market has recorded 17 GSE-CI 3,167.48 +22.8% gainers and 10 losers GSE-FSI 2,845.62 +23.2% since the beginning of the year to date. MAJOR WINNERSCurrent Exchange Rate YTD Change SIC Insurance Co. Ltd. 0.42 +320.0% Societe Generale Gh. Ltd. 2.03 +147.6% PZ Cussons Ghana Ltd. 0.44 +120.0% Mechanical Lloyd Co. Ltd. 0.12 +100.0% Ghana Oil Co. Ltd. 4.38 +62.8% MAJOR LOSERS DISCLAIMER Aluworks Ltd. 0.09 -43.75% This report is for general information purposes only. Starwin Products Ltd. 0.02 -33.33% Enterprise Group Ltd. 3.00 -18.9% SOURCES: Bank of Ghana, Ghana 0.05 Produce Buying Co. Ltd. -16.7% Statistical Service, Ghana Trust Bank Gambia Ltd 0.30 -14.3% Stock Exchange. www.pentassets.com +233 50 145 3564 .