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Article: All smiles on Casablanca bourse: privatisation, corporate activity and a robust economy are bringing back liquidity.(Capital markets: Morocco)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- March 12, 2004
- Author:
CopyrightCOPYRIGHT 2004 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The rise of Moroccan stocks has shown no sign of letting up in the first two months of the year, despite the strong gains of 2003, when shares rose by more than 30 per cent.
The kingdom's main index, the Moroccan All Shares Index (MASI), reached a four-year high on 8 March at 4,448 points, 13 per cent up on the year.
"We are very optimistic for 2004," says one local analyst. "Trading volumes are up to MD 25 million [$2.8 million] a day on average and all the principal macroeconomic factors point to a bull market."
Investors, encouraged by healthy headline figures posted by listed companies, and the robust economic environment, have been pouring ...