BRVM rises 0.23% as financials advance despite a 3.71% utilities drop
The BRVM Composite rose 0.23% to 436.51 points on June 17, while the BRVM Principal added 0.64% to 312.22 and the BRVM-30 gained 0.29% to 204.23. The move was driven by discretionary consumption, up 4.84% to 208.56 points, and financial services, up 0.4% to 199.3 points, even as utilities fell 3.71% to 214.48 points. In regional banking, Ecobank Centrafrique raised its capital to $28 million and is targeting the Cobac threshold, according to Agence Ecofin, while Coris Bank International Chad is negotiating a $10 million guarantee line with IFC, according to Sika Finance. Separately, NAB Consulting said it finalized a 250 million euro structured financing for the State of Niger, co-arranged with Coris Bank Niger and secured from Afreximbank, Financial Afrik reported.
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