Economy

Morocco’s Stocks Up 0.81%, Hitting All-Month High

Chaima Lahsini

Rabat - The stock exchange closed Monday’s trade with a new record, as the MASI Index rose by 0.81 percent hitting a one month high.

This impressive jump was mainly due to the growth registered in the construction and building material sector, telecommunications and banking.

The credit company Eqdom top’s the list of Monday’s session best performers, with a 5.97 percent growth, 57 points to trade at MAD 1,012 at the close. In second place, Agma 100 gained 3.60 percent or 90.0 points for a closing at MAD 2,590. The title Involys completed this leading trio with an increase of 3.21 percent or 3.85 points for a close of session at MAD 123.85.

SMI was the worst performer of the session, losing 3.19 percent or 99.00 points for a closing price of MAD 3,000. Delta holding dropped 2.81 percent or 0.88 points and finishes at MAD 30.42. For its part, Lesieur fell by 2.50 percent or 3.75 points for a closing price of MAD 146.25.

Trade volumes reached MAD 225 million on the main market, supported by large cap stocks. In this register, Maroc Telecom has drained nearly one third of the exchanges to MAD 70 million. The telecommunication giant gained 1.03 percent at MAD 137.90.

For their part, Attijariwafa Bank and BCP closed the session with respective increases of 1.13 percent and 1.05 percent for a common volume of MAD 53 million.

Still in the bullish camp, Cosumar advanced by 1.88 percent to MAD 407.50, channeling nearly MAD 19 million of trade, while LafargeHolcim gained 1.57 percent to MAD 2010 (MAD 26 million).

Resolutely, the listing took advantage of the large companies’ positive orientation during this first session of the week. Rising stocks outnumbered declining ones on the Casablanca Stock Exchange by 23 to 14, and 8 ended unchanged.

EUR/MAD was down 0.12 percent to 10.9200, while USD/MAD fell 0.03 percent to 9.7866.

The US Dollar Index Futures was up 0.30 percent at 97.16.

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