AGR House View-August 2023
The orientation of the stock market in recent years confirms, in our opinion, its high sensitivity to bonds. In 2022, the bullish reversal of the yield curve in Morocco was accompanied by an annual underperformance of the MASI index of -20%.
Research Report Sonatel 2023
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.
AGR Confidence Index - Morocco
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.
Stock Recommendation-TotalEnergies Maroc
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.
Listed companies results Q1-23
During this first quarter of 2023, 67 listed companies released their operational achievements. These account for more than 99% of the market's capitalization.
Research Report-Maroc Telecom-May 23
Following Maroc Telecom FY 2022 annual achievement and based on our discussions with the Management on April 11th 2023, we have updated our analysis as well as our stock's valuation.
Morocco Key Rate Expectations - Mar. 23
During our survey conducted in March, we identified investors' expectations regarding the evolution of the Moroccan central bank key rate during its 1st monetary policy meeting scheduled for March 21st, 2023.
Research Paper - LBV 2022 Results
At the end of 2022, Label Vie's revenue stands at 13,947 Bn, slightly higher than our forecasts which anticipated an activity level of 13,556 Bn. Therefore, yhe Group recorded a sustained growth of +18.6% in 2022, the highest in the last decade.
SENEGAL_FY 2023 Finance Act_ A taste of the new oil era
Senegal has accustomed us to posting very high growth rates which find origin in a diversified economy. In a crisis period, Senegal has shown strong resilience, and is one of the few economies to maintain a positive growth rate.