Research & Analysis

A "leadership" preserved in all countries of presence The incumbent telecommunications provider of Senegal (SONATEL), a subsidiary of the Orange Group, is a key player in West Africa.

The USD/MAD pair depreciated this week by -0.75% to 9.81 from 9.88 a week earlier, i.e. its lowest level since April 2022. The downward trend in liquidity spreads intensified this week with moving into negative territory for the first time in 12 months.

The USD/MAD pair depreciated this week by -1.31% to 9.88 from 10.01 a week earlier, a 12-month low. This evolution is explained by a double effect (basket and liquidity) in favor of the Dirham. [...]

In June 2023, we note a significant improvement in investors’ confidence towards the Equity market. Indeed, the AGR Confidence Index stands at 57.0 pts, up +24.5 pts compared to the previous edition.

During our survey conducted in June, we identified investors' expectations regarding the evolution of the Moroccan central bank’s key rate during its 2nd monetary policy meeting scheduled for June 20th, 2023.

An assessment of TotalEnergies Maroc stock takes place in a particular context marked by a volatility of the distribution margins, a decline in the consumption growth as well as an upward readjustment of the discount rates applied by financial investors.

During this first quarter of 2023, 67 listed companies released their operational achievements. These account for more than 99% of the market's capitalization.

The USD strengthens against the MAD for the 2nd consecutive week after a downward trend since mid-March.

The USD/MAD pair is strengthening this week after a downward trend which began in mid-March. It rose by +0.87% from 9.99 to 10.07. This change is mainly explained by a basket effect of +0.67% related to the appreciation of the dollar combined with a positive market effect of the USD/MAD pair of +0.20%.