Cairo – Mubasher: Talaat Moustafa Group Holding’s (TMG) stock dropped in Tuesday’s early trading by 9.88% to EGP 7.79 after its removal from the MSCI Emerging Markets (EM) Index for large companies and its listing in the small- and medium-sized companies index.
By 10:30 am Cairo time, TMG's trading volume reached 3.135 million shares exchanged at EGP 25 million through 266 transactions.
The MSCI EM Index’s May 2017 semi‐annual review, released on Tuesday, has shown the addition of Telecom Egypt (TE) and the switching of indices for Egyptian Financial Group Hermes Holding (EFG Hermes) and TMG.
The large companies’ index currently includes the Commercial International Bank – Egypt (CIB), Global Telecom, and EFG Hermes.
