Morocco's equities finished the trading session higher on Thursday, with the Moroccan All Shares index closing up 1.04% in Casablanca. The advance was driven largely by strength in the Banking, Beverage and Transport sectors, which outperformed during the session.
Leading and lagging stocks
The session's strongest performers on the Moroccan All Shares included Managem (CSE:MNG), which climbed 2.46% - a gain of 42.00 points - to finish at 1,752.00. CIH (CSE:CIH) added 2.37% or 8.00 points, ending the day at 345.00. Afriquia Gaz (CSE:GAZ) was up 2.16%, rising 79.00 points to close at 3,740.00 in late trade.
On the downside, IB Maroc Com SA (CSE:IBC) recorded the sharpest fall, slipping 7.55% or 4.49 points to close at 55.01. Zellidja S.A (CSE:ZDJ) declined 4.39%, or 14.00 points, to end at 305.00. Atlanta (CSE:ATL) retreated 3.90%, down 4.95 points to 122.00.
Market breadth and notable moves
At the close, advancing issues outnumbered decliners on the Casablanca Stock Exchange by 32 to 19, while 9 stocks finished unchanged. Shares of Atlanta (CSE:ATL) fell to 52-week lows, closing at 122.00 after the 3.90% decline.
Commodities, currencies and indexes
Commodity markets saw further gains during the session. Crude oil for October delivery rose 1.60% - an increase of 1.46 - to trade at $92.47 a barrel. Brent oil for November delivery climbed 1.32% or 1.26 to $96.89 a barrel. Precious metals also strengthened as the December Gold Futures contract gained 2.97%, rising by 131.06 to trade at $4,545.66 a troy ounce.
Currency moves were mixed. The euro to Moroccan dirham rate (EUR/MAD) was unchanged at 10.84, while the US dollar to Moroccan dirham rate (USD/MAD) rose by 0.31% to 9.36. The US Dollar Index Futures was down 0.59% at 98.96.
Context and implications
The day's trading showed concentrated sector leadership alongside selective weakness among midcap names. Banking, Beverage and Transport stocks led the advance, while individual companies in other sectors recorded notable declines. Commodities and currency shifts accompanied the equity move, with higher oil and gold prices and a modest strengthening of the dollar versus the dirham.