AFRIBIZ.Info
Written by: Editorial Staff on April 8, 2012.on April 5, 2012.
The MORALSI followed the EGX30 and closed the short week to Wednesday -2.5% weaker at 10,649.6 and on heavy trading. Losers dominated gainers 42:19 with four of the top six heavyweights, Maroc Telecoms (-3.5%), Douja Prom. Addoha (-7.3%), BMCE Bank (-2.9%) and Attijariwafa Bank (-0.8%) leading the declines. Unnoticed were gains from Managem (+4.4%) and Alliances (+1.3%). BMCE Bank, Douja Prom. Addoha, Alliances, BCP and Managem were the top traders, exchanging MAD 244.2m (USD 28.8m), MAD 112.2m (USD 13.2m), MAD 92.2m (USD 10.9m), MAD 71.8m (USD 8.5m) and MAD 63.1m (USD 7.4m) worth of shares and contributing to 70% of total value traded over the short period. Overall turnover reached MAD 834.4m (USD 98.7m), significantly more than last week’s MAD 441.4m and the six month average of MAD 689.5m. The MORALSI is now -3.4% weaker for the year (-2.3% in USD terms) with total market capitalisation at USD 58.4bn.Morocco’s National Investment Company (SNI), released its results for the year to 31 December 2011 and registered a showing a 50% rise in its net profit to MAD 4.3bn (USD 513m). SNI, which is invested across several sectors across Morocco’s economy such as retail foods, mining, banking, sugar, cement and steel posted consolidated turnover of MAD 50.5bn (USD 5.9bn) and grew total assets to MAD 115.2bn (USD 13.6bn). Its holding include AttijariWafa Bank, Managem , Sonasid, Cosumar, Lafarge Maroc and Marjane which account for about 12% of Morocco’s bourse. SNI generates the bulk of its revenue from Morocco and African countries and this helped it weather the repercussions of the financial crisis hitting the European Union, Rabat’s main trade and political partner.
Source:African Alliance
Posted by Editorial Staff on April 8, 2012.
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