Morgan Stanley indicated that it will not implement any adjustments in the framework of the upcoming index review for any securities in Egypt classified for listing on the MSCI indices and related composite, derivative and special indices. MSCI indices criteriaEntering the MSCI indices requires meeting several criteria, on top of which are the daily trading volume and the percentage of free trading, in addition to the market value of the listed companies, and there are 3 companies already. He explained that this is the main reason behind expectations that the revision of the Stanley index will not affect trading in the Egyptian market. Alfy explained that if the economic situation improves and effective measures are put in place, foreign investments will be pumped to revive the Egyptian market. He pointed out that the lack of clarity of vision regarding the exchange rate made investors think of backing away from the decision to move the exchange rate of the pound against the dollar.

Source: Daily News Egypt May 11, 2023 23:48 UTC