Moroccan equities ended the trading session in positive territory on Monday, with sector strength in Banking, Beverage and Transport supporting a small advance in the main index.
At the close of business in Casablanca the Moroccan All Shares increased 0.21%.
The session's largest winners included Miniere Touissit (CSE:CMT), which led advancers after climbing 6.20% - up 289.00 points to finish at 4,949.00. SMI (CSE:SMI) also posted a strong result, gaining 4.58% or 298.00 points to close at 6,799.00. Agma Lahlou-Tazi (CSE:AGM) rose 4.18%, adding 289.00 points to reach 7,199.00 in late trade.
On the downside, Nationale d’Electrolyse et de Petrochimie Ste SA (CSE:SNP) was the weakest name, slipping 2.98% or 11.00 points to end at 358.00. Marocaine Ste de Therapeutique SA (CSE:SOT) fell 2.90%, losing 11.00 points to close at 368.00. S2M (CSE:S2M) declined 2.75% or 14.00 points to finish the day at 496.00.
Market breadth at the Casablanca Stock Exchange was narrowly negative, with falling stocks slightly outnumbering advancers by 28 to 27; a further 7 issues finished unchanged.
Two stocks reached notable low thresholds during the session. Shares of Nationale d’Electrolyse et de Petrochimie Ste SA fell to five-year lows, closing down 2.98% at 358.00. S2M declined to 52-week lows, finishing down 2.75% at 496.00.
Commodities trading showed weakness across energy and metals. Crude oil for August delivery dropped 2.79% or 2.12 to $73.73 a barrel. Brent oil for September delivery fell 3.31% or 2.65 to $77.40 a barrel. In metals, the August Gold Futures contract declined 0.75% or 31.75 to trade at $4,214.15 a troy ounce.
Currency moves were modest: EUR/MAD decreased 0.08% to 10.68, while USD/MAD rose 0.29% to 9.34. The US Dollar Index Futures was up 0.02% at 100.64.
Market context and observations
The session saw gains concentrated in a handful of names, with Miniere Touissit, SMI and Agma Lahlou-Tazi accounting for the clearest advances. Conversely, select industrial and therapeutics-related stocks led declines, with two companies recording multi-period lows during the day. Commodities moved lower, which coincided with modest currency shifts in the dirham crosses versus the euro and dollar.
Overall, the market closed with a small net gain in the All Shares index, while underlying breadth remained close to balanced.