Stock Market Highlights
•The benchmark index declined for the second straight week, down 1.28% due to losses in six counters in the banking, insurance and petroleum marketing sectors to close at a -15.51% year-to-date return while market capitalization declined by 0.81% to settle at GH¢55.76 billion.
•Financial stocks shed 1.89% to close with a -14.37% year-to-date return following losses in four banks and one insurance stock.
•Activity levels dropped as 328,348 shares valued at GH¢304,664 changed hands compared with 16,365,160 shares valued at GH¢12,103,321 last week. GOIL Company Limited dominated trades, accounting for 26.30% of total value traded.
•We expect activity to be concentrated in financial stocks next week ahead of third quarter earnings results.
Societe Generale Ghana Limited (SOGEGH)
•The Board of Directors of Societe Generale have announced the appointment of Mr Arnaud De Gaudemaris and Mr. Georges King Tongamou Wega as Non-Executive Directors of the Bank.
•Mr Arndaud De Gaudesmaris is the current Chief of Staff to the Head of Societe Generale for the AFMO Region.
•Mr. Georges King Tongamou Wega is the Societe Generale Regional Director for West Africa.
Stock Market Highlights
•The benchmark index declined for the second straight week, down 1.28% due to losses in six counters in the banking, insurance and petroleum marketing sectors to close at a -15.51% year-to-date return while market capitalization declined by 0.81% to settle at GH¢55.76 billion.
•Financial stocks shed 1.89% to close with a -14.37% year-to-date return following losses in four banks and one insurance stock.
•Activity levels dropped as 328,348 shares valued at GH¢304,664 changed hands compared with 16,365,160 shares valued at GH¢12,103,321 last week. GOIL Company Limited dominated trades, accounting for 26.30% of total value traded.
•We expect activity to be concentrated in financial stocks next week ahead of third quarter earnings results.
Societe Generale Ghana Limited (SOGEGH)
•The Board of Directors of Societe Generale have announced the appointment of Mr Arnaud De Gaudemaris and Mr. Georges King Tongamou Wega as Non-Executive Directors of the Bank.
•Mr Arndaud De Gaudesmaris is the current Chief of Staff to the Head of Societe Generale for the AFMO Region.
•Mr. Georges King Tongamou Wega is the Societe Generale Regional Director for West Africa.