West Africa: BRVM Rebounds 1.11 Percent As Bridge Bank Leads Yet Another Week of Gains

What the report says

The Bourse Régionale des Valeurs Mobilières (BRVM), the West African regional stock exchange based in Abidjan, ended the week to October 2 with a modest rebound after the previous week’s losses. According to Daba Finance, gains in Bridge Bank Group Côte d'Ivoire, SODECI and Sonatel helped lift the market, with the BRVM Composite up 1.11% to 546.78 points and the BRVM 30 rising 0.97% to 264.57 points. Other indices also edged higher, while equity market capitalization increased by about XOF 235 billion to XOF 21.44 trillion.

The report said trading was still uneven, with more stocks falling than rising: 19 advanced, 25 declined and four were unchanged among 48 listed companies. Weekly turnover reached about XOF 17.94 billion, even as the number of shares traded fell from the prior week. Sonatel accounted for the largest share of trading value, and the three most active stocks made up more than 60% of weekly turnover, highlighting how concentrated activity remained.

Bridge Bank was the standout performer, climbing 15.39% during the week, while SODECI rose 9.08% and Sonatel gained 5.88%. Sector performance was mixed, with utilities, telecommunications, financial services and industrials moving higher, while consumer discretionary stocks declined the most. The article also noted that Sonatel shareholders are due to vote on a proposed 1-for-10 stock split on October 8, a move that would increase the number of shares while leaving the company’s capital unchanged if approved.