S&P Dow Jones and MSCI launch two indexes dedicated to the WAEMU stock exchange
S&P Dow Jones Indices (SPDJI) announced on July 2nd the launch of an index dedicated to the Regional Stock Exchange (BRVM) in West Africa.S&P Dow Jones Indices (SPDJI) announced on July 2nd the launch of an index dedicated to the Regional Stock Exchange (BRVM) in West Africa.
Called "S&P BMI Index Côte d'Ivoire (Broad Market Index)",
it contains all the shares listed on the BRVM, with the goal of integrating 80 percent of the total market capitalisation amounting to Cfaf5793.16 billion (€8.8 billion) on June 30th, Financial Afrik reports.
The announcement comes after the financial services company Morgan Stanley Capital International (MSCI) announced on June 10, 2014 the creation of a "Standalone" index dedicated to
financial market of the West African Economic and Monetary Union (WAEMU).
Three BRVM values (SONATEL ONATEL and SGBCI) are now listed through the "MSCI Index WAEMU" index.
This integration of the BRVM within the MSCI and S&P Dow Jones indexes reflects the growing attraction of the Stock Exchange on international financial markets and is expected to strengthen investors' confidence in the economic outlook of Western Africa.