Casablanca Stock Exchange: Status quo
The CSE has continued on its downward trend over the week ended August 1. The General Index registered a yearly performance of -10.24 percent (697.49 points), with a trading volume worth DH 253.4 million.
Status quo is the rule at the Casablanca Stock Exchange. Uncertainty is still prevailing over a lethargic market. The recovery, largely depending on the authorities, has long been awaited. Analysts agree that it is high time for implementing the various reforms defined earlier. Until then, investors continue to be overcautious, due to a lack of visibility, which characterizes the market.
Over the week ended August 1, the General Index has yielded some additional points. The yearly performance is currently set at -10.24 percent, with 697.49 points. The week's volume of transactions reached DH 253.4 million.
The major part of the transactions (41 percent, i.e. DH 104.3 million) was registered in the banking sector, followed by oil and mining companies (37 percent) - with the lion's share for MANAGEM-, and holding companies (11 percent).
On the official market, MANAGEM has monopolized trading, with 65,731 exchanged shares, while WAFABANK has led transactions on the blocs market, with 60,000 traded stocks.
The strongest rise of the week was registered by SOFAC-CREDIT, 7.50 percent upward to DH 430, whereas the sharpest fall was registered by AUTO-NEJMA, with a decline of 12 percent to DH 450.
Finally, it is worth noting that the General Index registered a slight rise of 0.32 percent last Tuesday. – (Finances News)
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