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.
Related stories
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.
BRVM (West Africa) — Utilities Jump 5.62% as Telecoms Drop 2.90% in Dividend-Driven Week
The BRVM ended the week nearly flat, with the BRVM Composite Total Return at **172.7** (-0.03%), but sector rotation was sharp: utilities rose **5.62%** while telecommunications fell **2.90%**. Dividend announcements and Bank of Africa capital increases drove the week’s market narrative.