BRVM Sustains Positive Trend with 2nd Consecutive Week of Gains
TLDR
- BRVM stock market sees second consecutive week of gains driven by Bank of Africa Burkina Faso (BOABF) and Total CI (TTLC).
- BOABF surges by 17.65%, reaching 4,000 FCFA, while Total CI increases by 7.22% to 2,600 FCFA, despite a significant capitalization loss by Orange CI (ORAC).
- BRVM Composite index rises by 0.30%, with positive trajectories for BRVM 30 and BRVM Prestige indices, supported by a balance of 28 increases against 12 decreases.
The BRVM stock market continued its upward momentum, marking its second consecutive week of gains, primarily driven by the strong performances of Bank of Africa Burkina Faso (BOABF) and Total CI (TTLC), despite a significant capitalization loss of 41.43 billion FCFA by Orange CI (ORAC).
BOA BF surged by 17.65% to 4,000 FCFA ($7), while Total CI increased by 7.22% to 2,600 FCFA. The BRVM Composite index rose by 0.30% to 253.67 points, supported by a favorable balance of 28 increases against 12 decreases.
The BRVM 30 index edged up by 0.05% to 127.24 points, and the BRVM Prestige index increased by 0.83% to 114.04 points, both continuing their positive trajectories for the second week in a row. The trading volume reached 4.65 billion FCFA, the highest since mid-November 2023.
Key Takeaways
The BRVM's sustained growth, highlighted by notable gains in key stocks like BOA BF and Total CI, reflects a strong market performance despite challenges such as Orange CI's capitalization loss. The second consecutive week of increases across the BRVM Composite, BRVM 30, and BRVM Prestige indices, coupled with a significant trading volume, signals investor confidence in the West African market. Additionally, the ongoing capital increase program by the BOA group, leading to adjustments in share prices for BOA BF, BOA Mali, and BOA SN, underscores the region's proactive measures to meet new regulatory banking requirements. This positive trend positions the BRVM well as it moves forward in the final quarter of the year.
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