Tullow Oil stocks sprang Ghana Stock Market to a record high. Find out How?

The GSE-Composite Index sprang to a record high on the back of a 6.11% gain on TLW stocks. The index closed mid-week trading at 1,758.92, 0.90% return on Tuesday's closing of 1,743.21. The change brings the year-to-date return to 46.61%.

Upward movement on GCB and EGL stocks halted the 3-day losing streak of the GSE-Financial Stock Index. It closed trading on Wednesday at 1,578.87, up 19.48 points from 1,559.39.

A turnover of 1.28 million shares resulted in a consideration of GHS5.46 million. Nineteen times more shares were traded on the exchange today, compared to the previous session. Trade value increased by more than thirty-seven times. EBG emerged as the dominant equity, 75.47% of the trade volume and 87.37% of the total value traded.

PBC recorded the only loss, falling 2-pesewas to GHS0.18. The upside saw six stocks appreciate in price. They included GCB, GGBL and GOIL; all closing at 52-week highs. Others were EGL, FML, TLW and TOTAL.

Courtesy: CBL

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Earnings Season on the Ghana Stock Exchange: Half Year Reports

We are in the first half Earnings Season on the Ghana Stock Exchange and in my earlier post about Benso Oil Palm Plantation (BOPP), i.e. Half Year Performance of BOPP, I looked at how BOPP performed on the exchange and for the first half. Below are the various performances for some of the companies listed on GSE.

UT Bank

UT Bank Ltd (UTB), an indigenous bank, have reported an 89.23% surge in profit after tax, from GHS 4.69m in 2011 half year results to GHS8.87m for the same period in 2012.