Confirmation of return to economic growth
- Growth acceleration to 4.2% in Q2 2017, increasing by 3.2 bps on a year-on-year basis and a 0.4 bps compared to Q1 2017 according to the latest figures of the High Commission for Planning;
- Maintaining the key lending rate at 2.25% following the quarterly board of BANK AL-MAGHRIB;
- Further improvement of Public Finances with a positive ordinary balance of MAD 4.3bn at the end of August 2017 against MAD 696m a year before for a budget deficit down by 12.9% to MAD 17.2bn;
- Increase in the trade deficit to MAD 127.2bn, down by 4% compared to the previous year, with a slightly higher coverage rate of 55.3%;
- Well oriented first-half year consolidated results, with an increase in the profitability of listed companies by 7.9% to MAD 16.8bn on June 30th, 2017;
- Trend reversal of the Casablanca Stock Exchange's leading indexes, illustrated by a 4.21% drop in the MASI and a 3.46% decline in the MADEX ...;
- … And, continuous outperformance of BMCE Capital Research's portfolio of securities with gains of 16.93% at the end of September 2017.
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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