BRVM Composite rises 0.37% as industrials jump 4.46%
The BRVM Composite rose 0.37% to 481.23 points, while the BRVM Principal gained 1.14% to 367.43 points and the BRVM-30 added 0.53% to 228.95 points. The move was driven by industrials, up 4.46% to 217.55 points, while energy fell 4.51% to 161.78 points and telecommunications advanced 0.84% to 112.03 points. In telecoms, Sonatel featured in several Senegal headlines, strengthening its Gandoul teleport to secure its position against Starlink and Kuiper, according to Capmad, after GCR raised its credit rating to the region’s highest level, according to Dabafinance. Financials rose 0.55% to 234.05 points as the EBRD opened a 15 million euro trade finance line through Ecobank Senegal, which became the first Senegalese bank financed by the institution, according to Capmad and Agence Ecofin.
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Sonatel and industrials lift BRVM as Ecobank holds 10-year high
The BRVM Composite rose 0.77% to 479.46 points and the BRVM Composite Total Return gained 0.77% to 190.29 points, led by industrials, which jumped 3.39% to 208.27 points. Sonatel underpinned the market after topping 31,000 CFA francs, while GCR raised its credit rating to the region's highest level, according to Sika Finance and Dabafinance, and the telecommunications index climbed 1.49% to 111.1 points. Ecobank stayed in focus after its stock hit a 10-year high, more than 1.5 billion CFA francs was committed to ECOBANK CI trading, and the EBRD provided 15 million euros, or nearly 10 billion CFA francs, for trade in Senegal, according to Dabafinance, Sika Finance, APAnews and LeQuotidien.sn. Gains were capped by utilities, which fell 1.84% to 225.69 points, while energy added 0.83% to 169.42 points and consumer discretionary rose 2.51% to 194.68 points.