casablanca stock market records best performance in 9 years
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Casablanca Stock Market Records Best Performance in 9 Years

Arab Today, arab today

Arab Today, arab today Casablanca Stock Market Records Best Performance in 9 Years

The Moroccan stock market
Rabat - Arab Today

The Moroccan stock market witnessed exceptional performance in 2016, recording a growth rate of (+ 30.46%). 

The growth occurred during a year where substantial reforms to the Casablanca Stock Exchange were implemented.


These critical reforms included the creation of the Moroccan Authority of the Capital Markets (AMMC), as the new watchdog and regulator of the capital market.  An end to the demutualization process of the managing company was also implemented, hoping to trigger a new stage of stock market development after a long, slow period.

According to the report of stock company, Moroccan Capital Credit, exchanges on the central market add up to MAD 32.08 billion, a growth rate of +11.6% compared to 2015.

The Moroccan Capital Credit noted in its yearly Market Actions Report, that more than half of this year’s exchanges were made by just four entities: Attijariwafa bank, with a respective capital of MAD 6.47 billion, BCP with MAD 3.96 billion, Addoha with 2.86 billion dirhams, and Maroc Telecom with MAD 2.82 billion.

This growth has mainly been accredited to the strong performance of Attijariwafa bank (ATW), especially after the announcement of a major acquisition in Egypt (100% of Barclays Bank Egypt), the stock company mentioned in its “Upline Yearly 2016” report.

After a slow 2015 that was marked by a -7.22% loss, the Casablanca Stock Market managed to achieve a considerable jump in 2016, scoring an exceptional growth rate of +30.46, representing its best performance in a period of 9 years.

Source :Morocco World News

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