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Up close with James Kwofie, MD Ghana Post
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Pitchers optimistic about a bullish Ghana Stock Market in 2021[ARTICLE] 31st Dec 2020 | Source: Citi Newsroom
The just ended Young Investors Stock Pitch Competition brought together young people, who have interest in finance and investment from across Ghana, to conduct an analysis on selected companies listed on the Ghana Stock Exchange; and further recommend whether investors should either buy shares in the company, sell their holdings or hold on to their shares in the company.
Some of the highlights of the pitchers’ presentations are summarized in this write up to serve as a guide for investors in 2021 and beyond. The pitchers formed teams and conducted their presentations before a panel of investors, who also served as judges.
IGS FSL Investment Update WE 11-12-20 15th Dec 2020 | Source: igsghana.com
Weekly Highlights
• Yields on short-dated treasury securities witnessed mixed adjustment.
• Accra Bourse steeped up recovery to reduce year-to-date losses.
• Ghana cedi outmuscled the British pound and Euro.
• US equity market hit by stimulus talk deadlock.
• Brent crude oil nearly hit the $50.00 mark, as demand picks-up.
Macroeconomic Update
Inflation dropped to 9.8 percent in November
Consumer price inflation settled at 9.8 percent in November 2020. This represents a fourth consecutive decline and the lowest since April 2020. The 0.30 percent moderation spurred by reduced inflationary pressures within the food and non-alcoholic beverage sector, brought the rate into the inflation bound of 8±2 percent target, set by the Government. Food and non-alcoholic sector Inflation settled at 11.7 percent in November 2020 from a previous rate of 12.60 percent. Non-Food inflatio
Republi Bank (Ghana) Ltd. -26.79%
Benso Oil Palm Plantation -30.07%
CURRENCY MARKET
The Cedi weakened against the USD for the week. It traded at GH¢5.7145/$ on Friday, against GH¢5.7139/$ at week open, reflecting w/w and YTD depreciations of 0.01% and 3.16% respectively against the USD. This compares with YTD depreciation of 12.97% a year ago.
The Cedi however strengthened against the GBP on the week. It traded at GH¢7.5535/£, compared with GH¢7.7082/£ at week open, reflecting w/w appreciation and YTD depreciation of 2.05% and 3.14% respectively against the GBP. This compares with YTD depreciation of 16.36% a year ago.
The Cedi also strengthened against the Euro. It traded at GH¢6.9206/€, compared with GH¢6.9409/€ at week open, reflecting w/w appreciation and YTD depreciation of 0.29% and 10.25% respectively against the Euro. This compares with YTD depreciation of 10.62% a year ago.
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