BRVM rises 0.43% as utilities jump 3.25% and banks drive the narrative
The BRVM Composite rose 0.43% to 414.4 on May 18, while the BRVM-30 gained 0.63% to 195.78 and utilities jumped 3.25% to 162.13. Financials added 0.88% to 186.63 as Ecobank dominated the news flow, completing a $450 million green bond, announcing $3 billion for African trade and saying it wants to mobilise 500 million euros with BOAD and Proparco, according to Financial Afrik and Togo First. Sonatel added support after posting 113 billion CFA francs in first-quarter profit, Seneweb reported, while SOGB will pay more than 12 billion CFA francs in dividends in 2025, according to Africtelegraph. By contrast, discretionary consumption fell 2.16% to 180.61 and staples lost 1.86% to 259.53, even as ORAGROUP rebounded after several sessions of declines, according to Sika Finance.
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