BOA Mali Shares Surge as Profits Soar, Leading BRVM Gains

AFRICAN STOCKS AND FINANCEOctober 9, 2024 at 11:30 AM UTC

TLDR

BOA Mali shares surge by 7.43%, reaching 2,170 FCFA with a 132% profit increase in the first half of 2024.
Key stocks like Orange CI (ORAC) and ETI (ETIT) drive market performance, with significant capitalization gains.
BRVM Composite and BRVM 30 indices see positive growth, while the BRVM Prestige index experiences a slight decline.

BOA Mali (BOAM) shares continue their upward trajectory, gaining 7.43% to reach 2,170 FCFA after a 132% increase in profit to 4.81 billion FCFA for the first half of 2024. This rise marks its highest level since a recent stock attribution operation and positions BOA Mali among the best-performing stocks on the BRVM.

The market opened the 41st trading week with 14 stock increases against 15 declines. Despite this slight imbalance, key shares like Orange CI (ORAC) and ETI (ETIT) boosted overall market performance, with capitalization gains of 52.73 billion FCFA and 18.08 billion FCFA respectively.

The BRVM Composite (+0.89% to 266.63 points) and BRVM 30 (+0.71% to 132.57 points) indices posted gains, though the BRVM Prestige index declined by 0.38% to 111.46 points.

US$1=597.45XOF

You can follow Daba’s reporting on Africa on WhatsApp. Sign up here

Key Takeaways

Besides BOA Mali, Solibra (+7.33% to 14,495 FCFA) and ETI (+6.25% to 17 FCFA) were among the top performers, benefiting from increased liquidity following Solibra’s stock split in late September. Conversely, Tractafric Motors (-7.03% to 2,115 FCFA), Air Liquide (-6.54% to 500 FCFA), and Sucrivoire (-6.52% to 645 FCFA) recorded significant losses. Investors traded a total of 671.02 million FCFA, with notable interest in Oragroup (+4.83% to 1,845 FCFA) and Orange CI, which captured 180.38 million FCFA and 61.04 million FCFA, respectively.

Stocks

Bank of Africa

BOA Mali

Orange CI

Ecobank

Ecobank Transnational Incorporated

Banking

Finance

Investments

Equities

Solibra