MASI drops 2.86% as Managem slides 10% and drags Casablanca lower
The MASI fell 2.86% to 17,623.73 points on June 11, while the MASI ESG dropped 3.92% to 1,262.01 and the MASI Mid and Small Cap index lost 3.58% to 1,757.89. Managem slumped 10% on turnover of MAD267.9 million, marking the market's worst session in weeks, according to analyst notes. In the background, Cosumar launched a share buyback program to improve stock liquidity, rapporte Aujourd'hui le Maroc, while Lesieur Cristal appointed 2 new executives to speed up its transformation, according to Medias24 and Finances News Hebdo. In financials, Attijariwafa Bank is preparing an AML/CFT protocol with Euronext to secure its European and African subsidiaries, and an agreement remains under discussion, selon برلمان.كوم and Africa Intelligence.
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Casablanca Stock Exchange — Managem Sinks 10% on MAD 267.9m Turnover as MASI Posts Sharp 2.86% Slide
Managem drew MAD 267.9 million in turnover while falling 10% on Thursday, as selling swept across Casablanca. The MASI lost 2.86%, hit by miners, banks and a tougher backdrop from currencies and commodity moves.
MASI falls 0.66% as Auto Nejma jumps 6% and corporate news flow builds
The MASI fell 0.66% to 18,505.63 points on June 9, after a 0.59% gain a day earlier, while the MASI 20 lost 0.5% to 1,323.77 and the MASI ESG dropped 0.92% to 1,353.81. Auto Nejma jumped 6% despite the broader decline, according to Bourse de Casablanca, as the Mid and Small Cap index slipped 0.46% to 1,849.52 after a 0.63% drop flagged the previous day. In corporate news, BCP said a 174.5 million euro settlement closes proceedings in Belgium against its BCDM unit, according to Medias24. Separately, the AMMC approved the information notice for Cosumar's share buyback program, according to Telquel.ma, while CMGP Group finalized the acquisition of CPCM, AgriMaroc reported.
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