• The benchmark index declined by 0.27% this week, following losses in three banking stocks to close at 2,149.70 with a -16.43% year-to-date return while market capitalization declined by 0.11% to settle at GH¢55.52 billion.

• Stocks in the financial sector remained offered. Ecobank Ghana (-0.25%), GCB Bank Ltd (-0.41%) and Standard Chartered Bank
(-6.25%) dragged the GSE Financial Index down by 0.59% to close at 1,806.73 with a -16.11% year-to-date return.

Trading Activity Picks Up
• Cal Bank dominated trading activity for the second straight week, accounting for 60.09% of total value traded. A total of 8,832,093 shares valued at GH¢7,154,736 changed hands compared with 8,570,197 shares valued at GH¢7,557,285 last week.

Outlook
• We expect an uptick in trading activity as companies release third quarter 2019 results. AngloGold Ashanti Limited (AGA)

• AGA increased free cash flow to $87m in 3Q 2019, more than double the free cash flow in 3Q 2018, as the Company prepared to recommence
production from its Obuasi mine which is on track to pour first gold by the end of the year. Investors looking to purchase/sell stocks and treasury bills can do so through SIC Brokerage Ltd.