In a noteworthy development in the financial markets, Moroccan stocks experienced a remarkable uptick at the close of trading on Monday, with the Moroccan All Shares index surging by an impressive 4.46%. This increase was primarily driven by robust performances across key sectors, notably Banking, Beverage, and Transport, which collectively propelled the market forward.
Leading the charge in the Moroccan All Shares was Managem (CSE:MNG), which exhibited a stellar performance by soaring 10.00%, translating to a gain of 1,363.00 points, ultimately closing at 14,998.00. Following closely was SMI (CSE:SMI), which rose by 9.99% or 699.00 points, concluding trading at 7,697.00. Miniere Touissit (CSE:CMT) also posted notable gains, climbing 9.98% or 454.00 points to finish at 5,005.00. The market sentiment was overwhelmingly positive, as the number of advancing stocks outpaced declining ones by a significant margin of 52 to 6, while 2 stocks remained unchanged.
On the flip side, there were some underperformers in the market. Marocaine pour le Commerce et l’Industrie Banque SA (CSE:BCI) experienced a decline of 6.13%, resulting in a loss of 38.00 points, closing at 582.00. Additionally, Marocaine Ste de Therapeutique SA (CSE:SOT) saw a minor decrease of 0.84% or 3.20 points to settle at 376.80, while Med Paper (CSE:MDP) dipped slightly by 0.71% or 0.18 points, concluding at 25.20.
In the commodities market, crude oil for July delivery witnessed a downturn, falling by 5.00% or 4.24 to $80.64 per barrel. Similarly, Brent oil for delivery in August dropped by 4.71% or 4.11, now trading at $83.22 per barrel. Conversely, the August Gold Futures contract saw a rise of 3.23% or 137.07, reaching a trading value of $4,375.87 per troy ounce.
In currency movements, the EUR/MAD exchange rate increased slightly by 0.13% to 10.73, while the USD/MAD remained relatively stable with a negligible change of 0.01% to 9.26. Meanwhile, the US Dollar Index Futures recorded a slight decline of 0.23%, settling at 99.26.
As reported by investing.com.
