BUSINESS NEWS | GHANA AND BEYOND 🌍 05/04/2018

BUSINESS NEWS | GHANA AND BEYOND 🌍 05/04/2018

🚩 Bilateral trade between Ghana and the United States of America hit $1.7 billion in 2017. This represents 53.61% increase over the $1.1 billion recorded in 2016. Data published by the United States Census Bureau puts the total balance of trade in favour of the US, at $135.7 million. The figure constitutes a 73.45% improvement, compared to the $510.8 million trade deficit recorded in 2016.

✴FOREIGN EXCHANGE 💴💰
US$Gh¢ Buy 4.4029 Sell 4.4073
GB£Gh¢ Buy 6.1980 Sell 6.2059
CAD$Gh¢ Buy 3.4338 Sell 3.4372
JP¥Gh¢ Buy 0.0413 Sell 0.0414
ZARGh¢ Buy 0.3700 Sell 0.3702
EU€Gh¢ Buy 5.4159 Sell 5.4205
CHN¥Gh¢ Buy 0.6980 Sell 0.6988
Gh¢CFA Buy 121.01 Sell 121.12
Gh¢NG₦ Buy 69.37 Sell 69.44
BITCOIN Trading Price $6,806.53 ▲$23.00 ▲0.34%
ETHEREUM Trading Price $382.89 ▲ $1.85 ▲ 0.48%
RIPPLE Trading Price $0.50 ▲ $0.01 ▲ 0.17%

🚩 The Ghana Stock Exchange (GSE) has delisted two companies from the bourse for breaching aspects of the regulations governing the operations of listed companies. The delisting of the two, Golden Web Limited and Transaction Solutions Ghana Limited takes effect from April 3, 2018, the exchange said in a press statement copied to Graphic Online. It explained that the decision to delist the two was based on Rule 13 of the GSE Listing Rules.

〽Inflation rate in Ghana ➡ 10.60%(+2.91%)

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✳Policy Rate in Ghana ➡ 18.00% ( -10.00%)

¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 12.8859% Interest Rate 13.3148%
182 – Day Discount Rate 12.9833% Interest Rate 13.8847%
1 Year Fixed Note Interest Rate 15.0000%
2 Year Fixed Note Interest Rate 16.5000%
5 Year Bond Interest Rate 16.5000%

🚩 The Bank of Ghana and International Finance Corporation (IFC), a member of the World Bank Group, have signed a cooperation agreement to provide technical support for organisational strengthening at the central bank, and development of Environmental and Social Risk Management (ESRM) guidelines for BoG and the banking industry.

🔼 GSE GAINERS ➖ YTD% ➖ PRICE
SIC +290.00% ➡Gh¢0.39
SOGEGH +182.93% ➡Gh¢2.32
GOIL +85.87% ➡Gh¢5.00
PZC +85.00% ➡Gh¢0.37
MLC +66.67% ➡Gh¢0.10

🔻GSE LOSERS ➖ YTD% ➖ PRICE
ALW -43.75% ➡Gh¢0.09
PBC -33.33% ➡Gh¢0.04
TBL -14.29% ➡Gh¢0.30
ACCESS -11.11% ➡Gh¢3.60
HFC -7.19% ➡Gh¢1.29

🛢Average Petrol & Diesel Price Per Litre – Gh¢4.50 (-3.67%)

🚩An oil and gas policy think tank, Centre for Natural Resources and Environmental Management (CNREM), has alleged that Ghana lost about $902.45 million in the oil sector because some of the oil companies paid less taxes and royalties to the country. According to the centre, although the oil resource is in Ghana, the county makes less than 20% of the revenue from the sector.

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 24,264.30 +230.94+0.96%
*S&P 500 🏦 2,644.69 +30.24 +1.16%
*Nasdaq Index📲💻 7,042.11 +100.83 +1.45%
* NYSE Composite Index 12,466.45 +99.38 +0.80%
*London FTSE 100 7,034.01 +3.55 +0.05%
*Germany DAX 11,957.90 -44.55 -0.37%
*Japan NIKKEI 225 21,689.99 +370.44 +1.74%
*Hong Kong HANG SENG 29,518.69 -661.41 -2.19%
* Shanghai Shenzhen 300 3,854.86 -7.62 -0.20%
*S&P/ASX 200 Index 5,798.50 +37.15 +0.64%
*Bloomsberg EU 500 247.84 -1.31 -0.53%
*FTSE/JSE South Africa Top40 48,051.90 -128.04 -0.27%
*Nairobi SE 20 Share 3,820.84 -11.28 -0.29%
*Nigeria SE Main-Board Index 40,749.86 -105.78 -0.26%
*GSE Composite Index 3371.56 +4.71 (+0.14%)
*GSE Financial Index 3058.40 +6.05 (+0.20%)

🚩Facebook saw its price target trimmed by Deutsche Bank, now “less optimistic” that changes to the social network’s ad targeting will have a minimal impact on revenues. DB is staying at a Buy rating for Facebook (NASDAQ:FB) but cut its target to $200 from $235, which still implies 28% upside from current pricing (which has taken a 16% hit over the past two weeks).

💧MUTUAL FUNDS IN GHANA♠YTD%
*GalaxyBfund 🔼+22.01%
*HeritageFund🔼 +21.84%
*Anidaso Fund 🔼+18.69%
*SAS Fortune 🔼+18.02%
*Gold Fund 🔼+17.93%
*HFC Equity 🔼+16.44%
*EDC Balanced 🔼+16.18%
*ARK Fund 🔼+15.15%
*Dalex Vision 🔼+13.33%
*SEM All-Africa 🔼+13.61%
*EPAcK 🔼+10.98%

🚩India is rushing to complete its ambitious infrastructure plan before the next elections, and is spending a record $18B this year to build highways and improve roads across the nation. With elections a year away, Prime Minister Narendra Modi and his administration are increasing government spending and had promised 10M new jobs a year to accelerate economic growth.

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $68.36 +0.34 +0.50%
*Natural Gas 🏭 $/million BTUS $2.71 -0.01 -0.40%
*Gold 👑 $/troy ounce $1,332.20 -8.00 -0.60%
*Silver 💍 $/troy ounce $16.25 0.00 -0.02%
*Corn 🌽 $/bushel $381.50 +0.50 +0.13%
*Cocoa 🍫 $/metric ton $2,475.00 -23.00 -0.92%
*Coffee ☕ ¢/pound $116.90 +0.30 +0.26%
*Sugar🎂 ¢/pound $12.27 -0.20 -1.60%

🚩In a sign that inflation pressures are easing in the U.K., shop prices in the country fell 1% year over year in March – their fastest retreat since February of last year – per the British Retail Consortium. The price drop was “driven by a substantial slowdown in food inflation, which reached its lowest rate for a year,” said BRC Chief Executive Helen Dickinson.

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