Morocco's Stock Market Faces Decline
On Thursday, the Moroccan stock market experienced a downturn, with the Moroccan All Shares index closing down by 0.52%, marking a new one-month low. This decline was primarily driven by losses in key sectors, including Utilities, Banking, and Mining, which collectively pulled down the market's performance. The trading session in Casablanca highlighted a distinct trend whereby the number of declining stocks significantly outnumbered those that advanced, with 37 stocks falling compared to just 12 that gained, while 11 remained unchanged.
Among the few bright spots in this challenging market environment, Salafin (CSE:SLF) emerged as a standout performer, witnessing a notable increase of 6.26%, or 27.00 points, to close at 458.00. Other companies that showed positive momentum included Lesieur Cristal (CSE:LES), which rose by 2.76% (8.50 points) to finish at 316.50, and Residences Dar Saada SA (CSE:RDS), which climbed 2.06% (3.50 points) to reach 173.50. Conversely, the session's worst performers included Ste de Travaux de Realisation d’Ouvrages et de Constuction Industielle SA (CSE:STR), which plummeted by 4.47% (7.95 points) to close at 170.05, as well as SMI (CSE:SMI) and Rebab Company (CSE:REB), which fell by 4.08% (249.00 points) to end at 5,851.00 and 3.98% (3.65 points) to reach 88.01, respectively.
Commodities and Currency Insights
In the realm of commodities, crude oil prices showed slight fluctuations, with August delivery rising by 0.01% to settle at $79.61 per barrel. Meanwhile, Brent oil for September delivery increased by 0.08% to $85.02 per barrel. On the other hand, gold futures for August experienced a decline of 1.30%, trading at $3,999.25 per troy ounce. Currency markets saw minimal changes, with the EUR/MAD remaining steady at 10.66 and the USD/MAD slightly adjusting to 9.33. The US Dollar Index Futures also noted an increase of 0.28%, rising to 100.55.
As reported by investing.com.
