BRVM rises 1.19%, lifted by industrials at 2.7% and banks
The BRVM Composite rose 1.19% to 537.25 points on Sept. 1, while the BRVM-30 gained 1.49% to 259.68 and the Total Return index added 1.19% to 216.16. The advance was driven by industrials, up 2.7% to 230.14, financials, up 1.61% to 250.12, and telecommunications, up 1.64% to 137.43, while utilities fell 1.47% to 278.23. Sika Finance reported that Sonatel generated 190 billion CFA francs and pushed the market to a new high on Aug. 19, after already accounting for more than half of 4 billion CFA francs traded on Aug. 4. On earnings, Sika Finance said Coris Bank International BF's first-half profit jumped 24% to 42 billion CFA francs, while leFaso.net reported Ecobank lifted first-half revenue 15% to $1.3 billion and posted $423 million in pre-tax profit.
Related stories
BRVM (West Africa) — SAFC Jumps 1.8% Even as Composite Slides 1.33%
SAFC Côte d’Ivoire posted the day’s top gain on the BRVM, rising 1.8% to 4,070 XOF even as the Composite fell 1.33%. Industrials held up with a 0.93% gain, contrasting with weakness in telecoms and utilities.
BRVM slips 0.28% as energy jumps 2.22% and Sonatel stays in focus
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.
SONATEL SN issues communiqué