Casablanca Stock Exchange — MASI Rises 0.48% as CIH Jumps 3% and Miners Draw Heavy Flows

MASI slips 0.2% as small caps outperform with a 0.51% gain

The MASI fell 0.20% to 18,040.73 points on Sept. 23, while the MASI 20 lost 0.46% to 1,305.16 points and the MASI ESG dropped 0.56% to 1,340.95 points. Small and mid caps outperformed, with the MASI Mid and Small Cap index rising 0.51% to 1,727.35 points after REB jumped 6%, according to a Sept. 23 analyst note. On the corporate front, L’Economiste reported that Taqa Morocco is to transfer a 2.7 billion dirham loan to Jorf Lasfar Energy Company 1-4, while Medias24 said OCP raised an additional $149.9 million on its hybrid bond. In earnings and expansion, Le Desk and InfoMagazine Maroc said SGTM’s first-half net profit rose 7.3% despite lower revenue, while Le Desk reported Akdital completed the acquisition of Al Bishri Hospital in Mecca and Le Matin.ma said TGCC is preparing the launch of a 133 million euro hospital complex in Congo.

Casablanca Stock Exchange — REB Jumps 6% as Small Caps Outrun a MASI Slip of 0.20%

REB rose 6.0% to 99.1 MAD on Wednesday even as the MASI fell 0.20% to 18,040.73. The MASI Mid and Small Cap’s 0.51% gain points to selective buying in smaller names despite a broadly weaker session.

MASI rebounds 2.27% as Akdital completes a Mecca hospital acquisition

The MASI rebounded 2.27% to 17,991.02 points on September 21, after a 2.18% weekly drop as of September 18, while the MASI 20 rose 2.44% to 1,313.64 and the MASI ESG gained 2.34% to 1,338.4, according to market data and an analyst note. The recovery was broad, with the MASI Mid and Small Cap up 2.13% at 1,710.12 and CMT jumping 10%, according to the September 21 analyst report. On the corporate front, Akdital completed the acquisition of Al Bishri Hospital in Mecca, renamed “Akdital Makkah Al Mukarramah,” Le Desk reported, while CIH Bank posted a 3.3% rise in first-half consolidated net profit, according to Medias24. In the background, SGTM retained 34.8 billion dirhams in its order book, according to Le Nouvelliste Maroc, while Mutandis mandated Akin Gump in Washington over surtaxes affecting its canned goods, Le Desk reported.