Casablanca looks up

02 August 2002

After a year of steadily declining fortunes, the Casablanca Stock Exchangewitnessed an astonishing burst of energy from investors causing the Madex index, which tracks the most actively traded stocks, to close the week to 31 July up 8 per cent at 2,290.18.

Trading was heavy in a number of blue-chip stocks including those of refining company Samir, the giant conglomerate ONAand its mining arm Managem, all of which climbed 4-6 per cent in the week. Analysts says the market was boosted by a number of political elements including the upcoming September elections, the resolution of the island dispute with Spain and the government's liberalisation drive.

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