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Sunday, 3 February 2019

Egyptian Exchange launches EGX30 Capped, rebalanced EGX30 goes live today

The stock exchange will launch a new index today: The EGX30 Capped puts a 15% limit the weight accorded any one security, according to an EGX statement (pdf). Capped indices are calculated in much the same way as regular ones, but prevent high freefloat capitalization stocks from causing disproportionate swings in the index. The measure will replace the narrower EGX20 Capped. The bourse issued a short guidebook on Thursday outlining its methodology (pdf).

The composition of the EGX30 is a bit different this morning after the exchange swapped eight companies in its regular rebalancing. The full rundown on the rebalancing is here (pdf).

IN: GB Auto, Oriental Weavers, Sarwa Capital, Kima, CIRA, Arabia Investments (Istithmaraat), Orascom Development Egypt, Arab Company for Asset Management.

OUT: Porto Holdings, Egypt Aluminum, Ibnsina, Edita, Orascom Construction, QNB Alahli, Sidi Kerir Petrochemicals, Abu Qir Fertilizers

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