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Egyptian Exchange reshuffles EGX30 index effective first of February

The Egyptian Exchange (EGX)  management decided to consent the amendments approved by the indices committee during the semi-annual periodic review of the indices to be applied by the first of February.

The periodic review provided on a number of changes, where 6 companies were removed from EGX 30 index and other 6 other companies joined.

For his side, Mohammed Omran, EGX Chairman noted that "the periodic review of the indices is in accordance to clear rules that are consistent with the international standards in this regard."

Omran added that the diversity provided by the six indices (in addition to the sectors’ indices) helps the various investors’ types to form a clear picture of the market situation.

The following companies were added , Arabia Investments & Development & Financial Investment Holding ,Arabian Cement Company (ARCC EY, Not Rated), El Shams Housing & Urbanization, Egypt for Poultry, Beltone Financial Holding, and Egyptians Housing Development & Reconstruction .

 While the following companies were removed from the index: SIDPEC, , GB Auto, El Wadi Company for Touristic Investment ,Egyptians Abroad for Investment & Development, General Company for Ceramics & Porcelain Products  and  Egyptians for Investment and Urban Development.

The recent years have witnessed a remarkable development in indices where they are no longer limited to one index; there are now different indices of different methodologies consistent to the various investor outlooks.

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