MASI falls 1.03% as Cosumar and Taqa Morocco drive the narrative
The MASI fell 1.03% to 19,041.05 points on April 20, after a 2.66% weekly gain in the April 13-17 period, while the MASI 20 lost 1.36% to 1,403.43 and the MASI Mid and Small Cap dropped 1.41% to 1,950.33. On stocks, Managem became the No. 1 market capitalization in mid-session ahead of Attijariwafa Bank, according to Medias24, while M.S.IN still rates Attijariwafa a buy with 12% upside and the bank posted more than 10 billion dirhams in profit, according to Medias24 and Le Matin.ma. Cosumar drove a cluster of corporate headlines with 281,000 tonnes of sugar output, a 500 million dirham liquid CO2 project and higher results, according to Le Desk, EcoActu.ma and La Vie éco. Taqa Morocco said it wants to raise capacity to 8 gigawatts by 2030 with 40 billion dirhams earmarked for renewables and natural gas, reports برلمان.كوم, while Akdital opened a new international expansion cycle, according to FNH.ma, and OCP secured a 95 million euro IFC loan for phosphogypsum storage in Jorf Lasfar, according to Le Desk.
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MASI falls 0.93% despite T2S’s 1.1 bln dirham IPO
The MASI fell 0.93% to 18,055.63 points on July 8, while the MASI 20 lost 1.0% to 1,328.05, the MASI ESG dropped 0.73% to 1,287.0 and the MASI Mid and Small Cap index slipped 0.85% to 1,809.25. The session was dominated by 42 decliners, although Maghrebail’s dividend detachment cushioned the drop, according to July 8 market notes, after the MASI had already fallen 0.96% on July 7 with 47 stocks lower. In primary markets, T2S Group Holding secured AMMC approval for a 1.1 billion dirham IPO, according to Medias24, and is set to list on the Casablanca Stock Exchange at 223 dirhams per share, according to Le Matin. On the corporate side, Marsa Maroc launched a 3 billion dirham investment plan at the Port of Casablanca, according to LesEco.ma, after extending the container terminal concession by 20 years, reports Aujourd’hui le Maroc, while Medias24 said the dirham appreciated against the dollar on July 7.
Mardi 7 juillet : le dirham s'apprécie face au dollar - Médias24 - Numéro un de l'information économique marocaine - Medias24
Mardi 7 juillet : le dirham s'apprécie face au dollar - Médias24 - Numéro un de l'information économique marocaine Medias24
MASI falls 0.4% as T2S wins AMMC approval for a 1.1 bln dirham IPO
The MASI fell 0.40% to 18,400.27 points on July 6, while the MASI 20 lost 0.43% to 1,352.61, the MASI ESG slipped 0.28% to 1,313.16 and the MASI Mid and Small Cap index eased 0.24% to 1,835.47. T2S Group Holding secured AMMC approval for a 1.1 billion dirham IPO, according to Medias24, in a session where an analyst report also showed SBM jumping 6.6% despite the broader decline. On the corporate front, Marsa Maroc launched a 3 billion dirham investment plan at the Port of Casablanca, according to LesEco.ma, while Managem is already preparing its growth in Senegal after the Boto mine, Agence Ecofin reported. In currencies, the dirham weakened against the dollar on July 6, according to Medias24, after the MASI had posted a 0.96% weekly gain as of July 3, according to the analyst note.