Moroccan Stock Market Update: Gains Led by Banking and Beverage Sectors
On Monday, the Moroccan stock market closed on a positive note, with the Moroccan All Shares index recording a modest increase of 0.02%. This rise has been attributed to notable gains in key sectors, particularly Banking, Beverage, and Transport. The Casablanca Stock Exchange witnessed a relatively balanced trading session, where advancing stocks outnumbered those that declined, with a ratio of 30 to 22, while seven stocks remained unchanged.
Highlighting the day's performance, Realis. Mecaniques (CSE:SRM) emerged as the top performer, experiencing a robust increase of 7.50%, equivalent to 35.80 points, closing at 513.00. Following closely was CIH (CSE:CIH), which saw a 3.99% rise, gaining 14.00 points to finish at 365.00. Additionally, Marocaine Ste de Therapeutique SA (CSE:SOT) recorded a gain of 3.59%, adding 61.00 points to reach 1,761.00.
Conversely, not all stocks fared well, as S2M (CSE:S2M) was the worst performer of the session, declining by 3.25% or 19.50 points, closing at 580.50. Risma (CSE:RIS) also faced a downturn, falling by 1.91% or 7.00 points to settle at 360.00. CFG Bank SA (CSE:CFG) rounded out the losers with a decrease of 1.83%, finishing at 215.00.
Commodities and Currency Movements
In the commodities market, crude oil prices exhibited an upward trend, with June delivery gaining 2.71%, climbing to $96.96 per barrel. Similarly, Brent oil for July delivery experienced a rise of 2.81%, reaching $101.92 per barrel. However, the June Gold Futures contract faced a decline of 1.17%, trading at $4,685.59 per troy ounce.
On the currency front, the EUR/MAD exchange rate increased by 0.25%, reaching 10.85, while the USD/MAD rose by 0.18% to 9.25. The US Dollar Index Futures, however, saw a slight decrease of 0.17%, settling at 98.20.
As reported by investing.com.
