BRVM ends little changed as financials weigh despite banking headlines
BRVM Composite Total Return slipped 0.03% to 172.54 points on June 12, while the BRVM Composite fell 0.09% to 436.6 and the BRVM-30 lost 0.07% to 203.69. Financial services dropped 0.44% to 199.71, the session's weakest sector, even as analyst notes dated June 12 flagged capital increases at Bank of Africa BF, ML, BN and SN. In company news, Coris Bank International highlighted nearly 29 billion CFA francs in 2025 dividends due to shareholders, rapporte Financial Afrik, while Ecobank raised $450 million through a Nature-Bond, selon Afrimag, and confirmed a turnaround plan for its undercapitalised Nigerian unit, d'après Agence Ecofin. Elsewhere, energy rose 0.43% to 154.99 as Ecobank Ghana raised $200 million to expand the Sentuo Oil refinery, according to energynews.pro.
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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.