BRVM Breaks 300-Point Mark as Global Markets Rally on Growth Optimism
TLDR
- West Africa’s BRVM surged this week, with the BRVM Composite Index climbing 2.13% to 301.29—its first close above 300 since July 2016
- Market cap reached a record 11.6T FCFA ($19.8B) with gains led by Sitab (+43.44%), Setao (+18.1%), and Ecobank (+11.72%)
- Nigeria’s NGX All-Share Index added 0.9%, with Northern Nigeria Flour Mills and Honeywell Flour Mill each gaining 10%
West Africa’s BRVM surged this week, with the BRVM Composite Index climbing 2.13% to 301.29—its first close above 300 since July 2016. Market cap reached a record 11.6T FCFA ($19.8B). Gains were led by Sitab (+43.44%), Setao (+18.1%), and Ecobank (+11.72%). Other BRVM indexes also jumped, driven by strength in financials and industrials.
Across Africa, Nigeria’s NGX All-Share Index added 0.9%, with Northern Nigeria Flour Mills and Honeywell Flour Mill each gaining 10%. Kenya’s NSE rose 5.83%, supported by Africa Mega Agricorp (+9.8%) and Sanlam Kenya (+9.71%). South Africa’s JSE gained 0.82%, paced by Visual International (+50%) and Nu-World Holdings (+14.2%).
Globally, U.S. markets posted strong weekly gains: the Nasdaq-100 surged 3.49%, the S&P 500 added 2.56%, and the Dow rose 0.95% amid tech strength and cooling inflation data. In Europe, the FTSE 100 climbed 1.52%, while the Euro Stoxx 50 rose just 0.16%. China’s SSE Composite inched up 0.43%, as momentum slowed late in the week.
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Key Takeaways
Markets globally reflected optimism on easing inflation and resilient earnings, while Africa’s exchanges—particularly the BRVM and NSE—saw standout performances led by industrial and financial equities. The BRVM’s breakthrough above 300 points marks a psychological and structural milestone, affirming investor appetite in Francophone West Africa. Looking ahead, attention will shift to inflation prints, central bank rate guidance, and commodity movements. For African markets, continued momentum in banking and telecom sectors, paired with retail investor inflows, could sustain upward trajectories—especially on the BRVM and NGX. Traders will also watch U.S. Fed comments and China macro signals for global risk cues.
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