Cairo – Mubasher: MubasherTrade Research expected the replacement of five stocks on the EGX30 index with another five stocks early February, according to a recent report on Wednesday.
The stocks of Abu Qir Fertilizers, Egypt Aluminum, Egypt Kuwait Holding, Ghabbour Auto (GB Auto), and Juhayna Food Industries are likely to be added to the EGX30 index, Mubashertrade highlighted.
Meanwhile, Arabian Cement, Arabian Food Industries Co (Domty), Cairo Oils & Soap, Egyptian Financial and Industrial Co, and Oriental Weavers Carpet are expected to be removed from the index, the research firm indicated.
MubasherTrade said that it excludes the first scenario, on which Global Telecom Holding was fully acquired by VEON Holdings, the report continued.
Given that MubasherTrade had previously projected Global Telecom to be excluded from the benchmark in case investors choose to sell their shares in the offer.
Abu Qir is still expected to have the highest weight within the potential stocks to be added to EGX 30, according to the report.
The research firm noted that Abu Qir, Egypt Kuwait Holding, Juhayna, GB Auto, and Egypt Aluminum would have weights of 4.51%, 3.83%, 2.58%, 1.56%, and 0.86%, while Commercial International Bank (CIB) is set to lose the highest weight as a result of the rebalance, the report concluded.
