BRVM slips 0.35% as energy rises 1.69% and Sonatel stays in focus
The BRVM Composite fell 0.35% to 471.83 points and the BRVM-30 lost 0.44% to 224.24 points on July 21, while the energy index rose 1.69% to 160.43 points. Discretionary consumption posted the steepest sector drop with a 3.0% fall to 196.12 points, while financial services added 0.31% to 226.48 points and utilities gained 0.16% to 228.84 points. Sonatel stayed in focus after ranking among 5 notable gainers on July 15, according to Dabafinance, while Capmad reports it is strengthening its Gandoul teleport against Starlink and Kuiper and We are Tech says its Max it app was connected to Dakar's bus rapid transit network. In banking, the EBRD opened a 15 million euro trade finance line through Ecobank in Senegal, according to Capmad, and Ecobank Senegal became the first Senegalese bank financed by the EBRD, according to Agence Ecofin, while Nigerdiaspora reports the appointment of Fayçal Younoussou as Ecobank Niger chief executive to open a new development cycle.
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The BRVM Composite fell 0.28% to 543.91 points and the BRVM Composite Total Return lost 0.28% to 219.12 points, while the BRVM-30 slipped 0.36% to 263.20 points. Losses were led by discretionary consumption, down 1.09%, financial services, off 0.71%, and utilities, down 0.60%, while energy rose 2.22% and industrials gained 0.48%. Sonatel stayed in focus after the Oct. 8 extraordinary meeting on its share split, with the changes outlined on Oct. 9, according to Financial Afrik. In banking, several capital increase notices concerned Bank of Africa BF, BN, ML and SN on Oct. 13, while Ecobank reiterated a $2.6 billion commitment to support women entrepreneurship and agribusiness in Africa, according to L'economiste du faso and Capmad.
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