Moroccan equities closed lower on Thursday, with sector weakness in Utilities, Banking and Mining contributing to a 0.75% decline in the Moroccan All Shares index at the Casablanca exchange.
At the close, Miniere Touissit (CSE:CMT) was the session's top gainer, finishing up 3.85% - a rise of 177.00 points - to settle at 4,777.00. CIH (CSE:CIH) advanced 3.09%, or 10.50 points, to end the day at 350.00, and SMI (CSE:SMI) climbed 3.08%, gaining 184.00 points to reach 6,150.00 in late trade.
On the downside, Wafa Assurance (CSE:WAA) paced the losers, sliding 4.07% - a drop of 226.00 points - to close at 5,323.00. Managem (CSE:MNG) fell 2.61%, or 349.00 points, to finish at 13,001.00, while Ciments Du Maroc (CSE:CMA) declined 1.82%, losing 30.00 points to trade at 1,620.00 at the close.
Market breadth was tilted toward falling names: 35 stocks declined versus 17 that advanced, and 8 issues finished unchanged on the Casablanca Stock Exchange.
Commodities saw mixed moves during the session. Crude oil for August delivery slipped 1.46%, down $1.07, to $72.45 a barrel. Brent crude for September delivery fell 1.27%, or $0.99, to $77.03 a barrel. In contrast, the August Gold Futures contract increased 1.29%, up $52.75, to trade at $4,135.15 a troy ounce.
Currency pairs involving the Moroccan dirham showed small shifts. EUR/MAD was effectively unchanged, moving 0.01% to 10.68, while USD/MAD edged lower by 0.05% to 9.36. The U.S. Dollar Index Futures was down 0.03% at 100.73.
Thursday's session featured notable sector pressure in Utilities, Banking and Mining that coincided with a modest pullback in the overall market. At the same time, moves in energy and precious metals markets were divergent, with oil prices easing and gold posting gains. Currency pairs tied to the dirham showed only small adjustments, and the U.S. Dollar Index Futures recorded a minor decline.
Investors tracking individual names saw a handful of stocks post strong single-session gains while several marquee names recorded declines large enough to influence sector performance and market breadth.