Morocco stocks lower at close of trade; Moroccan All Shares down 0.94%

Morocco's stock market closed lower on Friday, with the Moroccan All Shares falling 0.94% to hit a three-month low. The Utilities, Banking, and Mining sectors saw significant losses, dragging the broader market down. Disway SA emerged as the top gainer of the day, rising 5.77% or 41.90 points to close at 768.00. Other winners included Lesieur Cristal, which increased 2.73% or 8.20 points to 309.00, and Mutandis SCA, gaining 2.27% or 5.00 points to 225.00.

Conversely, Marocaine pour le Commerce et l’Industrie Banque SA suffered the biggest loss, falling 5.80% or 34.00 points to 551.00. Fenie Brossette Ste SA and Douja Prom Addoha also declined, ending the day at 318.00 and 32.45, respectively. On the Casablanca Stock Exchange, more stocks fell than rose, with 46 stocks down and just 13 advancing, and two stocks remaining unchanged.

Oil prices dipped, with November crude oil falling 2.74% or 2.54 to $90.33 per barrel, while December Brent oil declined 1.50% or 1.53 to $100.78. Gold futures also retreated, dropping 0.63% or 26.43 to $4,175.87 per troy ounce. The Euro to Moroccan Dirham (EUR/MAD) and US Dollar to Moroccan Dirham (USD/MAD) both edged up by 1.34% and 1.33%, respectively. The US Dollar Index Futures saw a slight decline of 0.27% to 101.61.