Morocco stocks lower at close of trade; Moroccan All Shares down 1.62%

Morocco's stock market saw a decline in its close trade on Tuesday, with the Moroccan All Shares falling by 1.62% to reach a six-month low. The Utilities, Banking, and Mining sectors saw losses, which negatively impacted the overall market performance. However, IB Maroc Com SA experienced a significant gain of 8.91%, while Lesieur Cristal and Maroc Aluminium Du SA also saw notable increases of 6.95% and 2.70%, respectively.

Conversely, Miniere Touissit, Mutandis SCA, and Douja Prom Addoha were among the worst-performing stocks, with declines of 3.74%, 5.33%, and 3.79%, respectively. The number of falling stocks outnumbered advancing ones on the Casablanca Stock Exchange, with 50 stocks declining and only 11 gaining value. Shares in Mutandis SCA hit a three-year low, while Maroc Aluminium Du SA reached a five-year high.

Commodity markets also experienced fluctuations, with crude oil for November dropping by 1.70%, Brent oil for December falling 1.95%, and gold futures for December rising by 0.77%. The exchange rates for major currencies, such as the Euro to Moroccan Dirham and US Dollar to Moroccan Dirham, also saw slight changes.