Cote d'Ivoire: Stocks Rally Globally As BRVM Holds Key Milestone

29 June 2025
Daba Finance (Abidjan)
  • Global markets closed the week mixed, with U.S. indices extending a two-month rally while African exchanges posted selective corrections
  • On the BRVM, the Composite Index closed below 310 after dipping -0.9% Friday, yet remained above the symbolic 300-point threshold
  • In developed markets, the S&P 500 (+2.63%), Nasdaq (+3.98%), and Dow Jones (+3.50%) closed the week at record highs

Global markets closed the week mixed, with U.S. indices extending a two-month rally while African exchanges posted selective corrections. On the BRVM, the Composite Index closed below 310 after dipping -0.9% Friday, yet remained above the symbolic 300-point threshold--a level not seen since 2016. Unilever Côte d'Ivoire soared +33.55%, topping weekly gainers, as Filtisac fell -23.75%.

Despite Friday's pullback, year-to-date BRVM returns remain strong across indices: BRVM 30 is up +11.24%, BRVM Distribution +10.44%, BRVM Prestige +14.24%, illustrating continued investor appetite.

The Johannesburg Stock Exchange (JSE) posted modest declines, with the All Share Index down -0.11% on Friday but maintaining a 4-week gain of 1.2% and +13.99% YTD. Efora Energy (+33.3%) led gainers, while Visual International plunged -50%.

Follow us on WhatsApp | LinkedIn for the latest headlines

Nigeria's NGX All-Share Index fell -0.64% Friday, trimming some of its 7.52% 4-week gain, buoyed by MeCure (+9.91%) and dragged by Legend Internet (-9.98%). Meanwhile, the NSE in Kenya rose 1.71% Friday, supported by strong moves in Olympia Capital (+9.19%) and Sameer Africa (+8.95%).

In developed markets, the S&P 500 (+2.63%), Nasdaq (+3.98%), and Dow Jones (+3.50%) closed the week at record highs, defying seasonal "sell in May" patterns. Euro Stoxx 50 and FTSE 100 also rose modestly, while China's SSE Composite posted a strong +2.25% gain amid improving sentiment.

Daba is Africa's leading investment platform for private and public markets. Download here

Key Takeaways

Heading into July, global equities face a nuanced setup. While the U.S. rally has pushed the S&P 500 and Nasdaq to all-time highs, investors should watch for volatility tied to U.S. tax reform negotiations and earnings. Historically, July is a seasonally strong month--especially for the Dow and S&P--with average returns of 1.5% and 1.7% respectively. In Africa, BRVM's resilience stands out. Despite lighter trading volume this week, it boasts double-digit YTD gains across multiple indices, reflecting the region's relative insulation from global volatility and a growing base of domestic and regional investors. The rally in select stocks has created renewed interest in regional equities, with further upside possible as earnings season begins. For deeper insight into high-potential BRVM picks, premium users on Daba Pro can access our latest exclusive recommendations. Looking ahead, continue monitoring macro signals from Washington, Chinese industrial data, and dividend cycles in African markets. While risks remain, the setup favors selective risk-on positioning globally.

Read the original article on Daba Finance.

Tagged:
Copyright © 2025 Daba Finance. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 80 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.