BRVM rises 0.55% as financials offset a 4.66% drop in discretionary stocks
The BRVM Composite rose 0.55% to 445.31 points on June 22, while the total return index added 0.55% to 176.29 points, led by financials up 0.74% and telecoms up 0.68%. Gains were capped by discretionary consumption, which slumped 4.66% to 204.46 points, while industrials fell 0.98% and energy lost 0.19%. In banking, Alain Nkontchou became Ecobank's largest shareholder, according to Afrimag, while Ecobank Centrafrique raised its capital to $28 million and aims for the Cobac threshold, according to Agence Ecofin. Coris Bank International Chad is negotiating a $10 million IFC guarantee line, Sika Finance reported, while 4 Bank of Africa units in Benin, Senegal, Burkina Faso and Mali published capital increase notices on June 22.
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