Stock Markets July 23, 2026 11:10 AM

Casablanca Stocks Slip as Utilities, Banking and Mining Lead Declines; Moroccan All Shares Falls 0.29%

Benchmark retreats while a handful of equities post notable gains; oil climbs and gold retreats amid mixed currency moves

By Ajmal Hussain
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Morocco's equity market closed lower on Thursday, with losses concentrated in the Utilities, Banking and Mining sectors. The Moroccan All Shares index ended the session down 0.29% in Casablanca. Select stocks delivered strong gains, even as broader commodity and currency moves created a mixed backdrop.

Casablanca Stocks Slip as Utilities, Banking and Mining Lead Declines; Moroccan All Shares Falls 0.29%
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Key Points

  • The Moroccan All Shares index closed down 0.29% in Casablanca, driven by losses in the Utilities, Banking and Mining sectors.
  • Advancers outnumbered decliners on the exchange by 32 to 21, with 9 stocks unchanged, indicating mixed internals despite the benchmark decline.
  • Commodities showed pronounced moves: September crude oil rose to $92.25 a barrel and Brent hit $100.85, while August Gold Futures retreated to $4,054.67 a troy ounce; currency pairs were largely stable.

Moroccan equities ended Thursday's trading session in negative territory as sector-level weakness in Utilities, Banking and Mining pressured the benchmark. At the close in Casablanca, the Moroccan All Shares index recorded a 0.29% decline.

Market breadth was tilted in favour of advancers by count, even as headline returns were negative: 32 issues gained, 21 retreated and 9 finished unchanged on the Casablanca Stock Exchange.

The session's top performers on the Moroccan All Shares included M2M Group (CSE:M2M), which climbed 6.92% - an increase of 24.90 points - finishing at 384.90. Societe des Boissons du Maroc SA (CSE:SBM) posted a 6.32% rise, gaining 127.00 points to close at 2,138.00. Lesieur Cristal (CSE:LES) also moved higher, up 4.26% or 13.00 points to end the day at 318.00.

On the downside, SMI (CSE:SMI) led losses after slipping 4.59%, a drop of 289.00 points to settle at 6,010.00. Fenie Brossette (CSE:FBR) declined 3.05%, falling 8.50 points to 270.00, while CDM (CSE:CDM) decreased 2.97%, down 28.80 points to finish at 940.20.

Commodities trading showed notable moves that accompanied the local equity activity. Crude oil for September delivery rose 6.24%, gaining 5.42 to trade at $92.25 a barrel. Brent crude for September delivery increased 7.21%, or 6.78, to reach $100.85 a barrel. Precious metals moved in the opposite direction: the August Gold Futures contract fell 2.34%, a decline of 97.23, to trade at $4,054.67 a troy ounce.

Currency pairs affecting local market flows were relatively stable. EUR/MAD was down 0.16% to 10.69, while USD/MAD was unchanged at 9.38. Global dollar strength was evident in the futures market, as the US Dollar Index Futures advanced 0.36% to 101.32.

The session presented a mixed picture: a modest overall market decline driven by specific sector weakness, accompanied by outsized moves in oil and Brent prices and a pullback in gold futures. While several individual stocks posted double-digit percentage gains, sector-level headwinds left the benchmark in negative territory at the close.


Market snapshot

  • Moroccan All Shares -0.29% at close in Casablanca.
  • Advancers 32, Decliners 21, Unchanged 9.
  • Notable gainers: M2M Group (CSE:M2M) +6.92%, Societe des Boissons du Maroc SA (CSE:SBM) +6.32%, Lesieur Cristal (CSE:LES) +4.26%.
  • Notable decliners: SMI (CSE:SMI) -4.59%, Fenie Brossette (CSE:FBR) -3.05%, CDM (CSE:CDM) -2.97%.

Commodities and FX

  • Crude oil (September) +6.24% to $92.25 a barrel.
  • Brent oil (September) +7.21% to $100.85 a barrel.
  • August Gold Futures -2.34% to $4,054.67 a troy ounce.
  • EUR/MAD -0.16% at 10.69; USD/MAD unchanged at 9.38.
  • US Dollar Index Futures +0.36% at 101.32.

This session underlines a market environment where selective stock-level strength can coexist with broader sector-driven weakness. Investors monitoring Moroccan equities will see a small benchmark decline alongside volatility in energy and precious metals markets.

Risks

  • Sector concentration of losses in Utilities, Banking and Mining could continue to pressure the overall index if those sectors remain weak, affecting market performance.
  • Volatility in global commodities, illustrated by sharp moves in crude and Brent prices and a decline in gold futures, may create uncertainty for companies sensitive to energy and metals prices.
  • Shifts in FX or in the US Dollar Index - which rose in futures trading - have the potential to influence capital flows and valuations for Moroccan-listed firms, given the unchanged EUR/MAD and USD/MAD readings.

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