BRVM rises 0.65% as industrials climb 2.23%
The BRVM Composite rose 0.65% to 425.54 points on May 29, while the total return index gained 0.75% to 166.94 points. Industrials led sector gains with a 2.23% rise to 189.88 points, ahead of utilities up 1.56% at 190.5 points, while energy slipped 0.05% to 144.65 points. On the corporate front, Sonatel highlighted a support programme for the 138th Popenguine Marian Pilgrimage, according to socialnetlink.org, while Dabafinance published a May 22 analysis of Ecobank Transnational Inc. Market notices showed BANK OF AFRICA SN set a net dividend of 450 CFA francs with ex-date on May 29, SICABLE set a net dividend of 152.02 CFA francs on May 29, and 4 BANK OF AFRICA entities announced capital increases. In Senegal, Ecobank Sénégal denied on May 25 the authenticity of a bank statement circulating on social media, according to Senenews.
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BRVM (West Africa) — Sucrivoire Jumps 1.8% as Market Slips, Energy Index Surges 1.8%
Sucrivoire posted the session’s top gain at 2,900 XOF in a mixed BRVM market, with energy up 1.8% while the composite index slipped 0.1%. Rotation into industrial and consumer names only partly offset weakness in financials and telecoms.
Ecobank leads BRVM narrative as composite slips 0.1%, energy rises 1.8%
The BRVM Composite fell 0.1% to 435.61 points on June 10, while the Total Return index slipped 0.1% to 172.05 and the BRVM-30 lost 0.37% to 203.25. The decline was led by utilities, down 1.55% to 221.01, financials, off 0.49% to 198.65, and telecommunications, down 0.45% to 104.4, while energy rose 1.8% to 155.04, according to market data. In company news, Ecobank dominated headlines with a 22.5 billion CFA franc dividend approval, $40 million in dividends paid by Ecobank TI and $3 billion in intra-African trade financing, according to APS, Financial Afrik and Agence Ecofin. The group also confirmed a turnaround plan for its undercapitalized Nigerian unit, saw the UMOA banking commission approve Bosquet's entry into its capital, and said it increased the number of profitable African subsidiaries from 15 to 25 in 4 years, Agence Ecofin reported.
BRVM (West Africa) — SIBC Draws 283.5m XOF Unchanged as Financials Slip 0.41%
SIBC posted the session’s top turnover at 283.5m XOF with no price move, even as the BRVM Financials index fell 0.41%. The contrast points to highly selective positioning in West African bank stocks amid dividend notices and fresh capital increase announcements.