Persisting lethargy on Casablanca Stock Exchange
(Finances News) — Despite an occasional rise registered from time to time, the CSE General Index is still in the danger area.
Over the week ended July 27, 2000, the Casablanca Stock Exchange has continued on its fluctuating trend. The marketplace is still lethargic. Over the week, the General Index has lost 0.81 percent to 699.21 points, thus reaching a YTD performance of –10.03percent.
The week's trading volume has relatively improved, however. From less than DH 90million last week (except the transactions concerning MANAGEM), the volume of transactions jumped to 196 millions.
On the central market, the mining sector monopolized trading, with a share of 36 percent, worth DH 69 million, followed by the ban king sector (29 percent of the trading volume, worth DH 55 million).
Most traded stocks were MANAGEM (48.911 shares), followed by BMCE (27.952), ONA (15.132), and CIH (7.494).
On the blocs market, BMCI came first, with 9,500 traded shares followed by MANAGEM (6,351 shares). The latter was in great demand last July 21. On the other hand, SMI reached a volume of transactions of DH 13 million last Wednesday, while MANAGEM's exchanged stocks reached 6,000 (DH 2.5 million).
In terms of annual performance, ALCATEL comes at the top of the list, 40 percent upwards. SMI comes in the second place with a slight rise of 0.43 percent over the year.
However, the absence of any strategic operations largely affects the market. The fall of the General Index is accordingly a logical consequence. Therefore, we can say that the Casablanca Stock Market is currently undergoing a “remaking process” after the lethargic atmosphere which prevailed over the first half-year. To take full advantage of the marketplace's expected recovery, investors need to bet on the medium and long terms
© 2000 Mena Report (www.menareport.com)