EGX remains bearish despite hold in MSCI Inc. emerging markets’ index
Egyptian Exchange - YOUM7

CAIRO: The Egyptian Exchange (EGX) extended its losing streak at Wednesday’s close, shrugging off a decision from MSCI Inc., a leading provider of research-based indexes and analytics, to keep Egypt in its index for emerging markets.

The indix included other countries in the Middle East region, such as the United Arab Emirates, Turkey and Qatar, the organization said in its annual market classification review posted on its website.

Hurt by Arab selling pressures, the benchmark index EGX30 declined 0.25 percent, to end at 8,639 points, down from 8,661 points on Tuesday.

Further, the small and mid-cap index EGX70 retreated 0.6 percent to end at 450.1 points, compared to 452.8 points in its last session. The broader index EGX100 fell by 0.71 percent, registering 954.6 points.

Market capitalization shed around 1.1 billion EGP ($144.2 million,) totaling 490.9 billion EGP, down from 492 billion EGP Tuesday.


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