| Capitalisation. On December 31st 2005, the market
capitalisation of the Casablanca Stock Exchange was set
at MAD 252.33
billion compared to 206.52 billion in the year 2004, i.e. An increase by
22%. Capitalisation accounts for 55% of GDP (against 47% in 2004). The
number of listed companies was 54 at the end of 2005. The Value Traded. In 2005, the value traded reached MAD 148.5 billion,
i.e. + 107% in comparison with the year 2004. This increase has been
explained by the rise in the volume registered on the share segment of the
Central market (+147%), by the rise in the volume registered on the share
segment of the block market(+215%), and by the large volume of
stock contribution the registration of which became obligatory in
March 2005: MAD 43.96 billion. As for listing operations, the
volume decreased by 83% in comparison with 2004. The liquidity
ratio is increasing by 102% (14.87% against 7.36% in 2004).
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