Orange CI, Coris Bank shares lift BRVM to six-year high
TLDR
- BRVM Composite index increased by 0.57% to reach 228.88 points, showing positive investor sentiment.
- Key contributors to the rise were Sonatel, Orange CI, and Coris Bank Int., driving market capitalization growth.
- BRVM 30 index also improved by 0.60% to reach 114.25 points, reaching its highest level since expanding to 30 components.
The BRVM Composite index continued its upward trend, increasing by 0.57% to reach 228.88 points on Friday, a level last seen in mid-May 2018. This reflects positive investor sentiment and reduced perceived risk, with the average market Price-to-Earnings Ratio (PER) at 8.65%, up 4% from the previous month.
The rise was driven by gains in Sonatel (+0.42% to 19,330 FCFA), Orange CI (+2.13% to 11,745 FCFA), and Coris Bank Int. (+4.00% to 10,400 FCFA), which contributed significantly to market capitalization growth.
In addition, the BRVM 30 index also saw an improvement, climbing by 0.60% to reach 114.25 points, marking its highest level since its expansion to 30 components. However, the BRVM Prestige index experienced a slight decline, dropping by 0.13% to 107.72 points.
Points clés à retenir
Top gainers on the day included CBI (+3.38% to 765 FCFA), Oragroup (+2.94% to 1,750 FCFA), and Orange CI. On the other hand, the biggest declines were observed in Sicable (-5.71% at 990 FCFA), Sicor (-5.42% at 3,400 FCFA), and CFAO Motors CI (-5.41% at 700 FCFA). In terms of trading activity, investors exchanged shares worth 280.48 million FCFA, slightly lower compared to the previous day. CFAO Motors CI (-4.35% to 2,200 FCFA) and Sonatel were the most actively traded stocks, with transaction values of 45.82 million FCFA and 32.47 million FCFA, respectively.
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