Casablanca rises 1.48% as Managem tops MAD 10 bln in H1
The MASI rose 1.48% to 18,329.91 points on Aug. 5, while the MASI ESG jumped 2.81% to 1,345.23 and the MASI Mid and Small Cap index added 0.86% to 1,789.65. Managem led the news flow with the completion of the acquisition of Sound Energy Meridja Limited on Aug. 5, after announcing a new natural gas entity on Aug. 3 to accelerate its energy strategy, according to LesEco.ma and Challenge.ma. In the first half, Managem's consolidated revenue exceeded MAD 10 billion after nearly tripling year on year, according to L'Economiste and lenouvelliste.ma. Mutandis also underpinned the session with 7% first-half revenue growth and a solid second quarter after a difficult start to the year, according to Boursenews, Challenge.ma and Telquel.ma.
Related stories
Casablanca Stock Exchange — SNP and FBR Jump 10% as Mid Caps Rally Despite FX Pressure
SNP and FBR posted the day’s biggest gains at 10.0% each as 49 of 81 Casablanca-listed stocks advanced. The MASI rose 1.48% and mid caps added 0.86%, helped by lower weekly oil prices even as EUR/MAD and USD/MAD moved sharply higher.
MASI rises 1.05% as Managem and Mutandis lift Casablanca stocks
The MASI rose 1.05% to 18,063.39 points on August 4, while the MASI ESG jumped 2.28% to 1,308.4 points and the MASI Mid and Small Cap index added 0.41% to 1,774.46 points, according to market data. Managem helped drive the move after nearly tripling first-half revenue, according to lenouvelliste.ma, while Challenge.ma reported the group created a new natural gas entity to accelerate its energy strategy. Mutandis extended the momentum with first-half revenue up 7% across all categories, according to Boursenews, and a solid second quarter, Challenge.ma reported. In financial services, Attijariwafa bank confirmed its leadership on T2S and mobilized nearly 1 in 2 investors, according to Le360.
The volume requirements applied to share repurchase at the Stock Exchange