Morocco Stocks Fall as Construction, Industrials Weigh
Moroccan stocks closed lower on Wednesday, dragged down by losses in the construction and industrial sectors. The Maad ALL Tassi index, the benchmark index of the Casablanca Stock Exchange, ended 0.16% lower at a new one-month low.
Ste de Travaux de Realisation d’Ouvrages et de Constuction Industielle SA (CSE:), IB Maroc Com SA (CSE:), and Cartier Saada (CSE:) were the best performers of the day, rising 4.19%, 2.88%, and 2.79%, respectively.
However, SMI (CSE:), Total Maroc SA (CSE:), and Delta Holding S.A (CSE:) were the worst performers, falling 4.08%, 3.33%, and 3.19%, respectively. The number of falling stocks outnumbered advancing ones, with 32 stocks declining and 16 rising, while 7 ended unchanged.
In other market news, crude oil for February delivery slid 0.09% to $70.10 a barrel, while Brent oil for delivery in March rose 1.24% to $73.22 a barrel. The gold price remained unchanged, with the February Gold Futures contract trading at $2,633.50 a troy ounce. The euro-to-moroccan-dirham exchange rate was unchanged at 10.48, while the US dollar-to-moroccan-dirham rate fell 0.10% to 10.07. The US Dollar Index Futures index rose 0.18% to 108.00.