Moroccan equities ended Monday's session with notable strength, with the Moroccan All Shares index closing up 4.46% in Casablanca. Gains were concentrated in the Banking, Beverage and Transport sectors and were reflected across a wide array of names.
The session's strongest performers included Managem (CSE:MNG), which advanced 10.00% - a rise of 1,363.00 points to finish at 14,998.00. SMI (CSE:SMI) also posted a near-double-digit gain, adding 9.99% or 699.00 points to close at 7,697.00. Miniere Touissit (CSE:CMT) climbed 9.98%, up 454.00 points to end the day at 5,005.00.
On the downside, Marocaine pour le Commerce et l’Industrie Banque SA (CSE:BCI) recorded the steepest fall, losing 6.13% or 38.00 points to trade at 582.00 at the close. Marocaine Ste de Therapeutique SA (CSE:SOT) declined 0.84% or 3.20 points to finish at 376.80, while Med Paper (CSE:MDP) slipped 0.71% or 0.18 points to 25.20.
- Top gainers:
- Managem (MNG): +10.00% to 14,998.00
- SMI (SMI): +9.99% to 7,697.00
- Miniere Touissit (CMT): +9.98% to 5,005.00
- Notable decliners:
- BCI: -6.13% to 582.00
- SOT: -0.84% to 376.80
- MDP: -0.71% to 25.20
Market breadth favored advances as 52 stocks rose, six fell and two remained unchanged on the Casablanca Stock Exchange. The broad upward move resulted in the Moroccan All Shares index finishing the session higher by 4.46%.
Commodity markets were mixed during the session. Crude oil for July delivery decreased 5.00% or $4.24 to $80.64 a barrel, while Brent oil for August delivery fell 4.71% or $4.11 to $83.22 a barrel. Precious metals moved in the opposite direction, with the August Gold Futures contract rising 3.23% or $137.07 to trade at $4,375.87 a troy ounce.
Currency quotes showed modest movement against the Moroccan dirham. EUR/MAD climbed 0.13% to 10.73, and USD/MAD was effectively unchanged, moving 0.01% to 9.26. The US Dollar Index Futures was down 0.23% at 99.26 for the session.
Overall, the Casablanca market's broad advance was accompanied by pronounced moves in commodity and currency markets that may influence market sentiment going forward.