IC Asset Managers (Ghana) Limited

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Bull’s Eye – 2Q2020

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Bull’s Eye – 2Q2020

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With a build-up in equity portfolio inflows since the start of the year amid improved corporate
earnings, one would have expected a slightly bullish undertone to trading on the Accra bourse in
1Q2020. Instead, Ghanaian equities remain mired in negative territory (-4.3%) with losses quickly
steepening in the closing sessions of the quarter as sellers redoubled their efforts due to
uncertainty regarding the impact of COVID-19
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