STOCKS NEWS AFRICA-Ghana's StanChart rises on bonus issue


STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 1710GMT 11Oct12 - Ghana's StanChart rises on bonus issue --------------------------------------------------------

Shares in Standard Chartered Bank Ghana inch up 0.09 cedis, or 0.22percent, to 40.63 cedis ($21.50) on 850 shares traded, a day after the bank saidit will offer a five-to-one stock split to investors holding shares prior toNov. 9.

"SCB's rise today is a very quick investor response to the bonus issue andwe expect further demand to push up prices in the days ahead," Derrick Mensah,analyst with SIC Financial Services said.

On the flip side, heavyweight Ecobank Transnational Incorporatedslides 0.01 cedi, or 8.3 percent, to 0.11 cedis, dragging on the broader GSEComposite Index, which is down 9.69 points, or 0.93 percent, to 1,034.43 points.

The GSE Financial Stocks Index also falls 13.38 points, or 1.5 percent, to857.96 points.

Traded volumes on the bourse are 79,990, valued at 90,982.65 cedis. (Christian Akorlie; dakar.newsroom@reuters.com) 0900GMT 11Oct12 - Village Main Reef ticks higher on production --------------------------------------------------------------

Shares of Village Main Reef add 1.6 percent to 1.29 rand after theSouth African mining company reports an 11 percent rise in gold production forthe July-September quarter.

The company says production improved at all its operations, with a 15percent increase at its Tau Lekoa mine.

Reuters Messaging: david.dolan.thomsonreuters.com@reuters.net 0829GMT 11Oct12 - Absa recovers after sell-off ----------------------------------------------

Shares of South Africa's Absa Group recover more than 1 percent to136.11 rand following a sharp sell-off in the previous session, when shares werehit by news a group of black shareholders had sold a stake in the bank worthabout $370 million.

Shares of Absa slid nearly 3 percent on Wednesday.

Batho Bonke Capital, a consortium of black investors led by prominentbusinessman and politician Tokyo Sexwale, offloaded a roughly 3.4 percent stakein Absa, almost all of its holding, allowing it to exit one of thepost-apartheid era's high profile "black empowerment" deals.

South African companies have used such deals - loan shares to blackinvestors or selling stakes at a discount - to increase their black ownershipand meet government targets to help those disadvantaged by the apartheid regime.

Reuters Messaging: david.dolan.thomsonreuters.com@reuters.net


Related Tags