BRVM rises 0.24% as utilities jump 6.4%
The BRVM Composite rose 0.24% to 403.36 points on April 28, while the BRVM-30 gained 0.81% to 190.3 points and utilities surged 6.4% to 142.57 points. Telecommunications added 1.66% to 102.48 points, while consumer staples fell 3.41% to 259.29 points and the main board slipped 0.72% to 280.18 points. On financing, FratMat reports that Ecobank Côte d'Ivoire, Banque Nationale d'Investissement, Bank of Africa Côte d'Ivoire and Coris Bank International Côte d'Ivoire mobilised CFA200 billion to support PETROCI Holding in Baleine Phase 2. Separately, Dabafinance says Ecobank plans to raise $500 million to refinance debt, while Investir au Cameroun reports that Alain and Cyrille Nkontchou are investing CFA56 billion in a solar plant in Angola.
Related stories
BRVM rises 0.8% as financials gain 1.38% on Ecobank and Coris updates
The BRVM Composite rose 0.8% to 463.89 points on July 7, led by financials up 1.38% to 217.73 points, while energy gained 2.31% to 172.57 points. Industrials fell 1.91% to 214.33 points and consumer discretionary dropped 4.51% to 193.85 points, according to BRVM market data. Ecobank confirmed its revaluation to 50 CFA francs, Sika Finance reported, while Jeune Afrique said Vista Group is seeking a new path after the failed Oragroup takeover. Coris Bank International created a Cameroon unit with 26 billion CFA francs and is still awaiting regulatory approval, according to Financial Afrik and Africtelegraph, after inaugurating a new headquarters in Burkina Faso worth more than 19 billion CFA francs, Sika Finance reported. SONATEL also secured an upgrade to its long-term rating by GCR, Leral.net reported.
BRVM: Ecobank Group Confirms Spectacular Revaluation at 50 FCFA
BRVM : Le groupe Ecobank confirme sa spectaculaire revalorisation à 50 FCFA Sika Finance
BRVM ends up 0.11%, led by utilities with a 2.55% gain
The BRVM Composite closed up 0.11% at 460.21 points, while the BRVM Composite Total Return rose 0.11% to 182.65 and the BRVM-30 added 0.24% to 216.67. Gains were led by utilities, up 2.55% to 238.69 points, and financial services, up 1.18% to 214.76, while telecommunications fell 1.53% to 107.83 and consumer discretionary dropped 1.85% to 203.0. In banking, Ecobank has extended its rerating with a 50% gain since mid-April, according to Sika Finance, while Coris Bank International has created its Cameroon unit and is still awaiting regulatory approval, Financial Afrik reports. In the background, Vista Group is seeking its next path after the failed Oragroup takeover, according to Jeune Afrique, while 4 Bank of Africa entities on the BRVM published capital increase notices on July 6.