Moroccan equities finished slightly lower at the end of trading on Thursday, with the Moroccan All Shares index retreating 0.04% in Casablanca. The modest drop reflected sector-level weakness in Utilities, Banking and Mining that offset gains among a handful of stocks.
Top performers
- Lesieur Cristal (CSE:LES) was the session leader, climbing 8.20% or 27.90 points to close at 368.00.
- Managem (CSE:MNG) rose 5.45% or 450.00 points to finish at 8,700.00.
- SMI (CSE:SMI) advanced 4.23% or 298.00 points to end the day at 7,350.00.
Lagging stocks
- S2M (CSE:S2M) posted the largest decline, falling 4.79% or 27.80 points to close at 552.20.
- Ste de Travaux de Realisation d’Ouvrages et de Constuction Industielle SA (CSE:STR) dropped 4.53% or 11.20 points to 236.25.
- Involys (CSE:INV) decreased 4.47% or 8.50 points to 181.50.
On the Casablanca Stock Exchange, decliners outnumbered advancers by 31 to 24, while 7 stocks finished unchanged. Notably, shares of Managem and SMI climbed to all-time highs in the session, with Managem up 5.45% to 8,700.00 and SMI up 4.23% to 7,350.00.
Commodities and currencies
Energy and precious metals markets moved higher on the session. Crude oil for March delivery increased 4.05% or $2.56 to $65.77 a barrel. Brent oil for April delivery rose 3.64% or $2.45 to $69.82 a barrel. The April Gold Futures contract gained 1.82% or $96.94 to trade at $5,437.14 a troy ounce.
Currency pairs involving the Moroccan dirham were effectively unchanged in the session. EUR/MAD moved 0.02% to 10.82, while USD/MAD changed 0.03% to 9.05. The US Dollar Index Futures slipped 0.13% to 96.15.
Key points
- The Moroccan All Shares closed down 0.04% amid sectoral weakness in Utilities, Banking and Mining.
- Individual winners included Lesieur Cristal, Managem and SMI; Managem and SMI reached new all-time highs.
- Crude oil, Brent and gold futures all posted gains, while EUR/MAD and USD/MAD were essentially unchanged.
Risks and uncertainties
- Sector concentration - Weakness in Utilities, Banking and Mining weighed on the index, indicating potential near-term vulnerability in those sectors.
- Market breadth - Decliners outnumbered advancers 31 to 24, suggesting uneven participation across stocks.
- Commodities volatility - Moves in oil and gold prices could influence values for commodity-linked Moroccan equities and investor sentiment.
This coverage reflects market movements and reported prices at the close of trading on Thursday and does not include investment recommendations.