Stock market results : A lockdown effect widely consumed
After a slight increase of 0.5% in Q1-20, the aggregate revenue of listed companies at the end of the 2nd quarter stood at MAD 55.7 Bn, down -10.5%. In more detail, 54 listed companies reported declining revenue in Q2-20 against 36 in the pre-vious quarter. [...]
AGR Confidence Index : Improving confidence toward equity market
After hitting a low since April 2013, we note a significant improvement in investor confidence toward the Equity market in September 2020. In more details, AGR Confidence Index stood at 46.6 pts, up +11.1 pts in comparison to the previous edition.
Research Paper- Mutandis H1 2020 Results
The diversification of Mutandis’s business portfolio strengthens the resilience of its results in 2020. To this end, the stock rate should benefit from a natural drop in its cost of capital on the stock market. According to our own valuation, the share price offers a potential increase of 33%.
Research Paper- LABEL VIE H1 2020 Results
The half-year results of Label Vie in H1-20 confirm the positive dynamics of the modern distribution sector in Morocco. Thanks to double-digit profit growth on MT, we believe the share price offers an attractive margin of appreciation of 28%.
Research Paper- Eqdom H1 2020 Results
The consumer credit sector is deeply affected by the Covid-19 crisis. However, we believe that the correction of the Eqdom on the stock market by -38% since January 2020 is disproportionate compared to the potential for a recovery in its fundamentals by 2022.
Key Rate Survey H2-20
In our survey conducted in September, we identified investors' expectations regarding the evolution of the Moroccan central bank key rate in H2-20. Recall that this survey was carried out among a sample of 34 investors regarded as the most influential within the Moroccan stock market.
A global Panic…, an inflated decline of equities in Morocco
In this unstable global context, it would be pretentious to say that the Moroccan Equity market is completely spared. Indeed, there are several transmission channels of the deterioration of interna-tional economic conditions to Morocco.
Bank Al-Maghrib: Unprecedented decisions…, monetary orthodoxy preserved
Bank Al-Maghrib has just announced a 50 BPS key rate cut from 2.0% to 1.5%. The institution also decided to reduce the required reserve ratio to 0%, thus releasing considerable liquidity of nearly MAD 12.9 Bn* in favour of banks.
Morning Brief 1st of July 2020
Find the main news from the financial and economic markets for the day of the 1st of July , 2020.
