Ecobank Ghana Limited (+0.15%) advanced due to a 51% growth in profit before tax and a 22% growth in total assets in the bank’s 2019 first quarter earnings results. Consequently, the financial index opened the week on a positive note, up 0.60 points (+0.03%) to close at 1,954.23 with a -9.26% year-to-date return.
The manufacturing index recorded no gains or losses for the third consecutive session, closing at the previous level of 4,598.33 with a -1.18% year-to-date return.
The benchmark index moderated by 11.83 points (-0.51%) to close at 2,328.95 with a -9.46% year-to-date return due to a loss in MTN Ghana (-1.43%) while market capitalization declined by 0.21% to settle at GH¢58.07 billion.
Trading value surged with 1,377,892 shares valued at GH¢1,027,681.26 changing hands from 60,408 shares valued at GH¢84,620.95 at the previous session. Scancom PLC (MTN Ghana) dominated trades, accounting for 98.68% of total volume traded and 91.53% of total value traded.
We expect trading activity to increase as investors take advantage of bargain stocks.
Annual General Meetings (May 2019)
Top Trades by Volume