BRVM rises 0.58%, lifted by industrials and financials
The BRVM Composite rose 0.58% to 485.43 points on Aug. 3, while the total return index added 0.66% to 193.9 points, with the Principal index up 1.55% at 370.92 points. Industrials led the market with a 1.75% gain to 218.78 points, ahead of energy at 1.57% to 161.94 points and financials at 0.85% to 236.82 points, while the Prestige index fell 0.38% to 176.88 points. Ecobank dominated headlines after reporting first-half net profit of 167 billion CFA francs, with solid growth tempered by Nigerian risk costs, according to Sika Finance, Financial Afrik, Agence Ecofin and Capmad. Sonatel also stayed in focus after posting more than 1.5 billion euros in first-half revenue and placing its second half under 5G, digital services and AI, according to Agence Ecofin and latribune.fr. In the background, Sika Finance said SITAB faced investors over the balance between yield and patience, while 4 Bank of Africa units in Burkina Faso, Mali, Benin and Senegal announced capital increases on Aug. 3, according to analyst notes.
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