Moroccan equities finished the trading session lower on Thursday, with weakness concentrated in the Utilities, Banking and Mining sectors that pushed the Moroccan All Shares index down 2.26% at the close in Casablanca.
Market breadth was tilted toward sellers: 41 issues declined versus 14 that advanced and seven that finished unchanged on the Casablanca Stock Exchange.
The session's largest percentage gains were recorded by Lesieur Cristal (CSE:LES), which rose 2.67% or 9.00 points to close at 346.00. Micro Data SA (CSE:MIC) added 2.63% or 20.00 points to finish at 780.00, while Nationale d’Electrolyse et de Petrochimie Ste SA (CSE:SNP) increased 2.44% or 9.00 points to end the day at 378.00.
On the downside, SMI (CSE:SMI) recorded the heaviest decline, sliding 9.99% or 774.00 points to close at 6,976.00. Maghreb Oxygene (CSE:MOX) fell 8.07% or 31.30 points to 356.70, and Miniere Touissit (CSE:CMT) dropped 6.19% or 316.00 points to 4,785.00.
Maghreb Oxygene's late session move pushed the stock to a 52-week low, with the share price moving down 8.07% or 31.30 to 356.70.
Commodities trading showed notable declines during the session. Crude oil for July delivery fell 3.58% or $2.75 to settle at $74.04 a barrel. Brent oil for August delivery lost 3.24% or $2.58 to $76.97 a barrel. In metals, the August Gold Futures contract eased 2.49% or 108.93 to trade at $4,272.47 a troy ounce.
Foreign exchange moves included EUR/MAD declining 0.40% to 10.68, while USD/MAD rose 0.23% to 9.31. The US Dollar Index Futures was higher during the session, up 0.52% at 100.38.
Market context
- Broad-based selling drove the Moroccan All Shares down 2.26% at the Casablanca close.
- Three stocks posted the session's largest gains, all up between 2.44% and 2.67%.
- Decliners outnumbered advancers 41 to 14, with seven stocks unchanged.
The trading day combined equity declines with weaker commodity benchmarks and modest currency shifts, contributing to the overall negative finish for Moroccan equities.