Orange Rebound Continues as BRVM Ends Week in Green
TLDR
- The BRVM closed the trading week positively with the Composite index gaining 0.45% to 288.73 points. The BRVM 30 rose 0.65% to 145.47 points.
- Market activity showed 7 stocks up, 32 down, and 8 unchanged. Orange topped gainers, rising 4.48% to 15,150 FCFA ($25.32)
- The market saw mixed performance across sectors, with telecommunications showing strength while banking stocks presented a more varied picture
The BRVM closed the trading week positively with the Composite index gaining 0.45% to 288.73 points. The BRVM 30 rose 0.65% to 145.47 points.
Market activity showed 7 stocks up, 32 down, and 8 unchanged. Orange topped gainers, rising 4.48% to 15,150 FCFA ($25.32). Other notable increases included BOA Senegal (+3.92%), SOGB (+3.64%), and Tractafric Motors (+2.46%). Sicable led declines, dropping 7.09% to 1,245 FCFA ($2.08), followed by Cfao Motors (-6.5%) and Ecobank Group (-6.25%).
The market saw mixed performance across sectors, with telecommunications showing strength while banking stocks presented a more varied picture. Ecobank significant drop came despite high trading volume of 5,301,841 shares.
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Key Takeaways
The BRVM (Bourse Régionale des Valeurs Mobilières) serves eight West African countries in the CFA franc zone: Benin, Burkina Faso, Guinea-Bissau, Côte d'Ivoire, Mali, Niger, Senegal, and Togo. The exchange has shown resilience despite regional economic challenges including inflation pressures and currency fluctuations. Orange CI's strong performance reflects the telecommunications sector's continued growth in West Africa, where mobile penetration continues to rise. The banking sector's mixed results highlight ongoing challenges in regional financial markets, with ECOBANK's decline potentially signaling investor concerns about its recent expansion strategy across the region.
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