After opening the week down due to the agricultural sector, the market immediately rebounded, reaching its mid-July level on Thursday August 6th.

“The equity market is starting August with a correction in its downtrend involving relatively low volumes compared to the past week,” Impaxis Securities confides in its “Weekly Review” for the week of August 3 to 6.

The Management and Intermediation Company (Sgi) indicates in the process that after opening the week down due to the agricultural sector, the market immediately rebounded, reaching its mid-July level on Thursday August 6th.

This, underlines the review, despite the ex-dividend listing of CIE CI (CIEC) and FILTISAC (FTSC) whose dividends stand respectively at 104.98 XOF (i.e. a growth of 32.50% in the dividend per share compared in financial year 2018) and XOF 125.00 (a growth of 13.64% in the dividend per share compared to financial year 2018).

According to him, this performance is mainly driven by the good recovery of the first capitalization of the market, the national telecommunications company of Senegal.

Impaxis notes in the same wake that the value SONATEL SA (SNTS) has come out of the bearish oblique channel in which it has been evolving, since July 08 with support at 11,875 XOF and resistance at 12,500 XOF, to reach its level of June 17 ( +7.33% to 12,880 XOF).

The company's half-year results published at the end of July show a 4.3% growth in its "Fixed + Mobiles + Internet" base despite the marked presence of competition and the covid-19 impact felt in all the countries of the cluster in the second quarter of 2020, the company also announced an upward revision of the prices of the "illimix" range with six new offers.

In addition, the document indicates that the Brvm-Utilities index achieves the only positive weekly performance (+5.13%) with 76.11% of transaction values.

In the continuity of sectoral performances, the Brvm-Distribution index, according to Impaxis, won the worst weekly performance (-5.06% to 202.74 points), thus erasing the gain of the past week.

Indeed, she explains, the values of the sector have evolved backwards this week pending the political orientation of the Ivorian president this Thursday, August 06, on the sidelines of the traditional speech on the eve of the feast of the independence, a few months before the presidential election.

“At the end of the week, 295,867 shares were traded for a total value of 515,400,823 XOF,” concludes Impaxis Securities.