The lingering performance of the Ghanaian stock market continued this week after four trading sessions, with the Composite index falling 13.86 points from 2,405.83 points the previous week. This led to a year-to-date loss of 7.01%.
The Financial Stock Index recorded a year-to-date loss of 4.81%, down 170 basis points. This was as a result of the share price of six financial companies declining.
The market capitalization closed GH¢59.30 billion, down 0.24% from the previous week.
By close of week, there was a gainer and ten laggards out of the shares of seventeen companies which were at the centre of trading.
Investor confidence in GOIL saw a boost as the stock was the only gainer for the week with a 9.09% gain to close at GH¢2.40; as investor await the payment of dividend of GH¢0.042 per share as declared by the company.
Financial stocks were on the downside as six out of the ten losers were financial stocks. SIC was the biggest loser with a dip of 7.69% to close at GH¢0.12 per share.
Unlike the previous week which saw a block trade of 14 million shares of MTNGH allowing liquidity to be on the high side; liquidity this week dropped 92% with a 1.2 million shares trading. MTNGH emerged as the most liquid stock for the week by trading 80% of total volume for the week, with the share price remaining unchanged.
Positive Run for TOTAL…
In a release of the Oil Company’s full year 2018 financial statement, profit after tax was 39% on a year-on-year basis. This came from a 28% increase in revenue generated by the company. Return-on-Assets was 6.36% higher than the industry average of 4.70%. Earnings per Share (EPS) rose to GH¢0.4502 from GH¢0.3235 the previous year. In December 2018, the company paid an interim dividend of GH¢ 0.0631 per share which the Board again will be recommending a final dividend of GH¢ 0.0768 per share in respect of the year ended 31st December, 2018, to be paid to Shareholders. This will in effect cumulate to a total dividend of GH¢ 0.1399 per share, representing 31% of the Company’s net profit after tax. Based on this, a hold is recommended for the stock.
TOTAL announced the 43rd Annual General Meeting which will be held at the National Theatre, Libera Road, Accra on Wednesday, May 15, 2019 at 11 am.
Investors may contact SIC Brokerage Ltd. for their Equity and Fixed Income trading at competitive bids.