BRVM Stock Market Maintains Upward Momentum to Reach Seven-Year High

BREAKING NEWSSeptember 16, 2024 at 12:47 PM UTC

TLDR

BRVM Composite index increases by 0.76%, reaching 261.24 points, hitting 260-point level first time since July 2017.
Sonatel (SNTS) drives growth with 4.58% valuation increase, market cap adds 105 billion FCFA, now at 2.4 trillion FCFA ($4.07 billion).
BRVM 30 index up by 0.88% to 131.15 points, BRVM Prestige index edges up by 0.07% to 126.56 points.

The benchmark BRVM Composite index continued its upward trend for the fourth consecutive week, increasing by 0.76% to reach 261.24 points, marking its first return to the 260-point level since July 2017.

This growth was largely driven by the performance of Sonatel (SNTS), the largest company on the BRVM, which saw a valuation increase of 4.58%, reaching 24,000 FCFA and adding 105 billion FCFA to its market capitalization to hit 2.4 trillion FCFA ($4.07 billion).

The BRVM 30 index rose by 0.88% to 131.15 points, and the BRVM Prestige index edged up 0.07% to 126.56 points. Despite a balance of 13 stock increases against 25 decreases, the market's overall momentum remained positive.

Key Takeaways

Notable performers included Orange CI (ORAC), which gained 1.01% to reach 14,950 FCFA, adding 22.60 billion FCFA in valuation. On the downside, Onatel BF (ONTBF) experienced the largest loss, falling by 2,400 FCFA and losing 19.72 billion FCFA in market value. Onatel BF also reported a 16.4% decline in half-year profits, down to 9.33 billion FCFA from 11.16 billion FCFA in the same period in 2023. The BRVM also announced the resumption of trading for Solibra (SLBC), which completed a stock split to comply with market regulations. Solibra's share nominal value has been divided by ten, and trading will resume on September 30 with 3,062,240 shares available.

Stocks

BRVM

Sonatel

Orange

Onatel

Solibra

Finance

Investments

Equities

Dividends