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BMCE Capital Research Strategy July 2019

  • Confirmed deceleration of growth to 2.7% in 2019 before accelerating to 3.4% in 2020 according to the latest HCP statistics ;
  • Widening of the twin deficits at the end of June by 7% to MAD -21.8bn for the fiscal deficit and by 4.9% to MAD -102.5bn for the trade deficit ;
  • A return to green for the Casablanca Stock Exchange at the end of July with a MASI and a MADEX improving by 2.22% and 2.50% to 11,616.49 points and 9,463.61 points respectively in y-t-d ;
  • Continued positive performance of the portfolio of securities recommended by BMCE Capital Research of +14.10%, outperforming the MASI RB (+6.10%).


BMCE Capital Research
BMCE Capital Research

BMCE Capital 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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