Morocco stocks higher at close of trade; Moroccan All Shares up 0.26%

Moroccan stocks experienced an upward trend at the close of trade on Wednesday, with the Moroccan All Shares gaining 0.26%. The Banking, Beverage, and Transport sectors played a significant role in driving the rally. Among the top gainers, Maghrebine de Monetique Ste SA saw a notable 4.63% increase, climbing 23.90 points to reach 540.00 at the close.

Med Paper (CSE:MDP) and Maghreb Oxygene (CSE:MOX) also performed well, each achieving a 4.29% and 3.93% rise respectively, to close at 24.30 and 394.95. Conversely, Stokvis Nord Afrique (CSE:SNA) and Fenie Brossette Ste SA (CSE:FBR) were among the poorest performers, with Stokvis Nord Afrique falling to its 52-week low at 57.50, marking a 7.26% decline.

The majority of stocks on the Casablanca Stock Exchange, 28 out of 51, closed lower, with only 9 ending unchanged. Oil prices saw a bullish trend, with November crude oil rising by 2.32% to $91.45 per barrel, while Brent oil for December delivery increased by 2.84% to $98.89 per barrel. Additionally, the December Gold Futures contract posted a modest 0.31% rise to $4,192.70 per troy ounce.

Exchange rates followed a similar upward trend, with EUR/MAD improving by 0.25% to 11.02 and USD/MAD climbing 0.18% to 9.70. The US Dollar Index Futures, however, experienced a slight decline of 0.07%, settling at 101.05.