Stocks in Morocco moved higher at the close on Wednesday, with the Moroccan All Shares index advancing 1.87% as the Casablanca session wrapped up. Sector gains in Banking, Beverage and Transport underpinned the broader rise in equities.
The top performers on the Moroccan All Shares were led by Stokvis Nord Afrique (CSE:SNA), which surged 10.00% - a gain of 8.57 points - to finish at 94.30. Close behind, Ste de Travaux de Realisation d’Ouvrages et de Constuction Industielle SA (CSE:STR) climbed 9.98%, adding 22.45 points to close at 247.45. Residences Dar Saada SA (CSE:RDS) also posted a notable advance, rising 6.27% or 9.85 points to end the day at 167.00.
Not all issues moved higher. The weakest showings of the session included CTM (CSE:CTM), which fell 1.32% or 12.00 points to close at 895.00. Aluminum du Maroc SA (CSE:ALM) declined 1.06%, a drop of 19.00 points to 1,779.00, and Nationale d’Electrolyse et de Petrochimie Ste SA (CSE:SNP) slipped 0.64% or 3.00 points to finish at 467.00.
Market breadth on the Casablanca Stock Exchange strongly favored advancing issues, with 52 stocks up against 4 that declined, while 4 securities ended the session unchanged.
Commodities trading showed gains across key contracts. Crude oil for March delivery increased 0.61% - up 0.38 - to $62.77 a barrel. Brent oil for April delivery rose 0.35%, gaining 0.23 to trade at $66.82 a barrel. Precious metals were also stronger, as the April Gold Futures contract climbed 3.08% or 157.65 to reach $5,278.25 a troy ounce.
Foreign exchange moves were modest. The euro traded higher against the Moroccan dirham, with EUR/MAD up 0.17% to 10.82. The dollar-rate USD/MAD was essentially unchanged, moving 0.03% to 9.05. Elsewhere, the US Dollar Index Futures rose 0.30% to 96.34.
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