Home Economy Casablanca Stock Exchange: Third Bullish Week in June

Casablanca Stock Exchange: Third Bullish Week in June

Moroccan Stock Market

Rabat – Morocco’s stock exchange closed last week’s trade on a good note. For the third week of June, the Moroccan All Share Index registered a 0.50 percent gain, closing trade at 11,750 points. As of now, its Year-to-Date performance settles at 0.92 percent.

Transactions saw a drop of 24 percent, as trade volume settled at MAD 63 million against 847 million a week before.

In order to strengthen their regulatory capital and finance their development, Attijariwafa Bank, BCP and BMCE raised their funds in the bond market.

Attijariwafa bank increased its funds to MAD 1.5 billion, BCP to 2 billion and BMCE Bank of Africa to MAD 1 billion, making the amount of issued debt MAD 4.5 billion. ATW and BCP issued subordinated bonds while BMCE Bank of Africa issued subordinated perpetual bonds.

MASI Index Up by 0.95 percent at close of trade on Friday

On Friday, the Casablanca Stock Exchange managed to achieve a catch-up session recovering its losses after the collapse recorded at the close on Thursday. The MASI Index has in fact recovered momentum, posting at the close an increase of 0.95 percent around 11,750 points.

This rebound was mainly supported by the takeover of LafargeHolcim with an additional 10 percent, or 179 points to trade at 1979 at the close. The company finished in first place at MAD 1.979 per dividend, recovering its sharp Thursday drop.

Total Morocco was once again at the top of trade volumes with MAD 67 million, followed by Maroc Telecom with a 0.36 percent gain out of MAD 59 million in transactions. At close of trade, exchanged volumes reached MAD 167 million.

Shares in Colorado and CTM rose to 52-week highs, gaining 4.84 percent and 0.50 percent respectively.

Rising stocks outnumbered declining ones on the Casablanca Stock Exchange by 22 to 19, and six ended unchanged.

EUR/MAD was up 0.19 percent to 10.9310, while USD/MAD fell 0.20 percent to 9.7699.

The US Dollar Index Futures was down 0.31 percent at 97.20.

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