AfriBiz
Written by: Editorial Staff on March 26, 2012.
The MORALSI shed -1.3% during the week to close at 11,024.3 in a period which witnessed 44 decliners against 19 gainers. Afriquia Gaz (-11.7%), Managem (-8.8%), CGI (-5.8%), Attijariwafa Bank (-1.4%) and SID (-6.1%) pulled the index lower with only Lafarge Morocco (+4.4%) and BCP (+0.5%) offering some resistance. Maroc Telecom, CGI, Alliances and Douja Prom Addoha drove turnover, exchanging MAD 87.5m (USD 10.3m), MAD 60.3m (USD 7.1m), MAD 52.5m (USD 6.2m) and MAD 48.0 (USD 5.5m) worth of stock over the week respectively. Together they accounted for 56.8% of a total of MAD 434.8m (USD 51.1m) traded over the week, which is a significant improvement from MAD 190.6m and MAD 273.9m traded over the past couple of weeks but still below the six month average of MAD 695.4m. The MORALSI is now down -0.03% (+1.2% in USD terms) YTD and total market cap is at USD 60.3bn.
Morocco’s foreign exchange regulator said on 22 March that the trade deficit for January and February is up 27.6% to MAD 32.8bn (USD 3.9bn) from a year earlier. Imports were up 15.9% to MAD 60.2bn against exports which were up 4.6% to MAD 27.4bn.
Source:African Alliance
Posted by Editorial Staffon March 26, 2012.
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