4 stocks excluded, 4 firms joined EGX30 in periodical review

CAIRO – 26 July 2017: Four companies were added to the benchmark index of the Egyptian Exchange (EGX) and another four were excluded from it, during the periodical review, a Wednesday statement said.

Credit Agricole, Juhayna Food Industries, Orascom Construction and GB Auto were excluded, while Alexandria Mineral Oils, Abu Dhabi Islamic Bank, Egyptian Financial and Industrial Company (EFIC) and Egyptian Chemical Industries (Kima) were added.

The small and mid-cap index EGX70 saw the exit of 17 firms, four of which joined EGX30, while 13 companies were exited from the broader index EGX100 and 13 firms were added to it.

No change was witnessed in the constituents of the Nile Index, thus the index's firms stay 26.

The new changes will be effective as of August 1, 2017, the statement added.

Earlier, Pharos Holding reported that EGX is conducting its periodical review for its main index EGX30, on semi-annual basis from February to August, to add new or remove existing constituents based on certain criteria.

Pharos added that liquidity is the most important factor among these criteria and is measured by the total value traded for the company during the six-month period prior to the next review date, after excluding the value of the OPR deals.