BRVM sees second weekly gain on Bernabe, BICI CI, BOA rally
TLDR
- BRVM regional stock exchange trading concluded positively last week, with key performers like Bicici and BOA Benin.
- Bernabé's stock displayed volatility, impacted by speculative anticipation of the company's 2023 annual results.
- Bicici secured second place in the rankings, maintaining strong performance with a year-long gain of 15.63%.
Trading on the regional stock exchange BRVM concluded on a positive note last week, despite more stocks falling than rising. Key performers included Bicici (+5.71% to 7,400 FCFA), BOA Benin (+3.72% at 7,240 FCFA), and SIBC (+1.40% at 5,780 FCFA), contributing to the market's favorable trend.
Notably, Bernabé's stock witnessed a fluctuating trajectory, rising by 4.02% to 1,295 FCFA in the prior week, dipping by 5.41% to 1,225 FCFA the following week, and rebounding by 6.12% to 1,300 FCFA. This volatility is attributed to speculative anticipation of the company's 2023 annual results.
In addition, Bicici secured second place in the top rankings. The stock has maintained strong performance since the beginning of 2024, with a year-long gain of 15.63%. The list of top increases also includes BOA SN (4.63% at 3,505 FCFA) and Total CI (2.30% at 1,780 FCFA).
Key Takeaways
Total volume transacted increased by 6.01%, reaching 1.94 billion FCFA compared to the previous week's 1.83 billion FCFA. BOA CI (-1.03% to 7,200 FCFA) and Sonatel (stable at 19,000 FCFA) were the most traded securities, with respective amounts of 325.33 million FCFA and 205.56 million FCFA. In other African markets, the Ghana Stock Exchange saw the best performance in the 16th week, with a 1.82% jump for a GSE-CI standing at 3,504.34 points. Conversely, the Zimbabwe Stock Exchange (-4.38% to 95.99 points), the Kenya Stock Exchange (-3.64% to 106.60 points), and the Nigerian Stock Exchange (-2.71% to 99,539.75 points) comprised the bottom three performers.
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