BRVM rises 1.09%, led by industrials at 3.67% and Ecobank developments
The BRVM Composite closed up 1.09% at 440.13 points, while the BRVM Composite Total Return reached 172.76 points, with industrials leading at 3.67% and utilities up 2.40%. Financial services rose 0.68% to 197.63 points as Ecobank-related developments dominated headlines, according to Togo First and Agence Ecofin. The UMOA Banking Commission approved Bosquet’s entry into Ecobank’s capital, Agence Ecofin reported, while Cathia Lawson-Hall was elected to the group’s board, according to Togo First. Ecobank TI also paid $40 million in dividends, a figure highlighted by Financial Afrik as helping ease the paradox surrounding the pan-African champion.
مقالات ذات صلة
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.
BRVM edges lower as energy rises 1.22% amid Ecobank-driven headlines
The BRVM Composite fell 0.14% to 436.06 points and the BRVM-30 lost 0.38% to 204.01 points on June 9, while the energy index rose 1.22% to 152.3 points, according to market data. Financials slipped 0.41% to 199.62 points as Ecobank dominated headlines, approving CFA22.5 billion in dividends, according to APS, while Ecobank TI paid $40 million in dividends, Financial Afrik reported. The group also confirmed a turnaround plan for its undercapitalized Nigerian unit, according to Agence Ecofin, while increasing the number of profitable African subsidiaries from 15 to 25 in 4 years, the same source said. Agence Ecofin also said the UMOA banking commission approved Bosquet’s entry into Ecobank’s capital, while the group said it had financed $3 billion in intra-African trade.
Ecobank drives BRVM headlines as Composite slips 0.13%
The BRVM Composite fell 0.13% to 436.68 points on June 8, while the BRVM Composite Total Return lost 0.13% to 172.48 and the BRVM-30 slipped 0.29% to 204.78. Losses were led by utilities at -1.81%, telecommunications at -1.54% and industrials at -1.45%, while financials rose 0.98% and energy gained 1.14%. Ecobank dominated the newsflow with a 22.5 billion CFA franc dividend approved, equivalent to $40 million paid by Ecobank TI, according to APS and reported by Financial Afrik, while the UMOA Banking Commission approved Bosquet’s entry into the capital, according to Agence Ecofin. The group also confirmed a turnaround plan for its undercapitalized Nigerian unit, according to Agence Ecofin, and said it had financed $3 billion of intra-African trade, while Togo First reported Cathia Lawson-Hall’s election to the board.