BRVM: Industrial index plunges 3.24% despite Bank of Africa capital increases

BRVM (West Africa) — SOGB Jumps 2.0% as Dividend Plays Cushion a Broad Market Slide

SOGB posted the day’s top gain at 7,750 XOF even as the BRVM fell 0.81%. Dividend announcements from Bolloré Transport & Logistics and Tractafric CI helped support defensive names, while financial stocks dragged on the market.

BRVM slips 0.81% as Coris Bank CI reshuffles management

The BRVM Composite fell 0.81% to 520.27 points on October 21, while the BRVM-30 lost 0.78% to 252.04 and the BRVM Composite Total Return dropped 0.81% to 209.59. The decline was led by utilities, down 3.71% to 220.84, and financial services, off 1.13% to 239.76, while energy rose 0.75% to 155.55 and consumer staples added 0.17% to 259.34. In banking, Coris Bank International Côte d’Ivoire appointed Alassane Kaboré after 7 years in Togo, according to Le Nouveau Reporter, while Nikada Tchanguaï was named deputy chief executive, Financial Afrik reported. Separately, 4 Bank of Africa units, BOA SN, BOA BN, BOA BF and BOA ML, were the subject of capital increase notices dated October 20 and October 21, according to analyst reports.

BRVM falls 0.94% as Sonatel starts a 1-for-10 stock split

The BRVM Composite fell 0.94% to 524.52 points on October 20, while the BRVM Composite Total Return lost 0.94% to 211.31 points. The decline was driven by utilities, down 6.44% to 229.36 points, and telecommunications, off 2.25% to 143.14 points, while industrials rose 1.77% to 212.69 points. Against that backdrop, Sonatel started a 1-for-10 stock split on the BRVM, Africtelegraph reports. In banking, Coris Bank International Côte d’Ivoire appointed Alassane Kaboré after 7 years in Togo and named Nikada Tchanguaï deputy chief executive, according to Le Nouveau Reporter and as reported by Financial Afrik.