Moroccan equities ended Tuesday's session with gains, led by strength in Banking, Beverage and Transport stocks. At the close in Casablanca, the Moroccan All Shares rose 0.91%.
The session's strongest performers on the Moroccan All Shares were S2M (CSE:S2M), which climbed 8.19% - a rise of 38.90 points - to finish at 514.00. Managem (CSE:MNG) added 5.47%, an increase of 700.00 points, closing at 13,500.00. Miniere Touissit (CSE:CMT) also advanced, up 3.88% or 170.00 points to end the day at 4,550.00.
On the downside, CTM (CSE:CTM) was the weakest name of the session, falling 6.46% or 58.00 points to close at 840.00. Fenie Brossette (CSE:FBR) declined 3.44%, losing 9.80 points to finish at 275.20, and Aluminum du Maroc SA (CSE:ALM) slipped 2.95% or 56.00 points to end at 1,844.00.
Market breadth on the Casablanca Stock Exchange was tilted to the upside, with 30 stocks rising versus 26 that fell and 5 that finished unchanged.
Notably, shares of Fenie Brossette (CSE:FBR) reached 52-week lows during the session, closing down 3.44% at 275.20.
Commodities posted mixed results. Crude oil for August delivery fell 0.71% or 0.50 to $70.25 a barrel. Brent oil for September delivery was down 0.15% or 0.11 to $73.80 a barrel. Precious metals moved higher as the August Gold Futures contract rose 0.28% or 11.27 to trade at $4,050.17 a troy ounce.
Currency moves in the session included the euro against the Moroccan dirham, with EUR/MAD up 0.27% to 10.72, and the dollar versus the dirham, with USD/MAD rising 0.09% to 9.39.
Finally, the US Dollar Index Futures registered a small uptick, trading up 0.01% at 100.89 at the time reported.
Market context
- Broad-based gains in Banking, Beverage and Transport sectors supported the overall rise in the Moroccan All Shares index.
- Commodity prices were mixed, with crude and Brent oil lower while gold futures advanced.
- Local FX pairs showed slight appreciation of both the euro and the US dollar versus the Moroccan dirham.
Session statistics
- Advancers: 30
- Decliners: 26
- Unchanged: 5