BMCE Capital Research Strategy January 2020
- Confirmation of weak economic growth in 2019 with a decelerating Q4 ;
- Timid recovery expected in 2020 with a GDP growth of 3.5% ;
- Widening of the trade deficit by 1.5% to MAD -209bn, integrating a 2% increase in imports to MAD 491bn and a 2.4% increase in exports to MAD 282bn;
- Good start for the flagship indices of the Casablanca Stock Exchange with performances of +2.96% for the MASI and +3.11% for the MADEX in y-t-d;
- Our new stock selection progressed by 4.77%, outperforming its Benchmark by nearly 2 pts.
BMCE Capital Global Research is a subsidiary of BMCE Capital Group dedicated to Research and Financial Analysis. It is addressed to professional investors (financial institutions, management companies, etc.) to which it provides information and independent analysis aligned with international standards. BMCE Capital Research covers equities, interest rate, Forex and commodities markets in Morocco, Tunisia and WAEMU region (Bourse Régionale des Valeurs Mobilières, BRVM). Thanks to its latest generation technology platform, to its teams and to those of its partners, the Research Office of BMCE Capital is now able to cover simultaneously several places in Africa and to produce several publications co-branded under its umbrella brand African Securities Network, ASN.
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