BRVM rises 0.73%, led by utilities' 6.11% jump
The BRVM Composite rose 0.73% to 501.3 points on Aug. 17, while the BRVM Composite Total Return closed at 200.78, lifted by utilities' 6.11% gain and energy's 3.04% rise. Telecommunications added 1.47% to 119.05 points, tracking Sonatel after its first-half profit reached CFA230 billion according to Sika Finance, following revenue of more than CFA1 trillion reported by Xalima. Trading remained concentrated in Sonatel, which accounted for more than half of the CFA4 billion traded on Aug. 4, according to Sika Finance, extending a weekly rebound led alongside Sicor as reported by Dabafinance. Financials were nearly flat at -0.02% despite Ecobank, whose first-half revenue rose 15% to $1.3 billion and pretax profit reached $423 million, according to leFaso.net, while Africa Intelligence reports the group is not favorable to entering the Ethiopian market.
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