Regional bourse BRVM crosses historic level after market rally
1 min Read September 13, 2023 at 11:45 AM UTC
- One of Africa’s two regional stock exchanges, the Bourse Régionale des Valeurs Mobilières SA, or BRVM, crossed the threshold of 8,000 billion FCFA for the first time ever on Tuesday.
- The positive rally was driven by impressive financial results posted by major firms listed on the bourse including Societe Generale CI and Ecobank CI, both of whose share prices rose +5.71% and +7.32% respectively after the announcements.
- In a similar fashion, major market indices, the BRVMComposite, BRVM30, and BRVMPrestige all posted gains, of +1.22%, +1.28%, and +1.74% respectively.
Source: Sika Finance
Africa is home to the only stock markets in the world shared by several countries: the BRVM and the BVMAC (Bourse des valeurs mobilières de l’Afrique centrale). They serve the 14 French-speaking African countries in the WAEMU and CEMAC unions respectively. The regional stock exchanges—which are integrated into the MSCI and S&P Dow Jones Indices, and run totally in digital format—operate on the CFA Franc, the common currency for all the member states. The currency is pegged to the current French currency (Euro), offering foreign exchange stability to investors in the country.
This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Articles do not reflect the views of DABA ADVISORS LLC and do not provide investment advice to Daba’s clients. Daba is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.