Index provider Dow Jones Indexes and the Egyptian Exchange have announced that the Dow Jones Case Egypt Titans 20 Index has been renamed Dow Jones EGX Egypt Titans 20 Index, following t
Index provider Dow Jones Indexes and the Egyptian Exchange have announced that the Dow Jones Case Egypt Titans 20 Index has been renamed Dow Jones EGX Egypt Titans 20 Index, following the re-branding of the Cairo and Alexandria Stock Exchanges to the Egyptian Exchange.
Dow Jones Indexes and the Egyptian Exchange jointly launched the index in April 2006. The index, which serves as underlying for several investment products in Europe, measures the performance of the 20 leading Egyptian stocks ranked by free-float market capitalisation, sales/revenue and net income.
As of 3 March, the top five components of the Dow Jones EGX Egypt Titans 20 Index ranked by free-float market capitalisation were Orascom Construction Industries, Orascom Telecom Holding, Commercial International Bank (Egypt), Telecom Egypt and EFG Hermes Holding.
The Dow Jones EGX Egypt Titans 20 Index, which is calculated in the Egyptian pound as well as euro and US dollar, is reviewed annually in June. The index is weighted by free-float market capitalization. The weight of the largest component is capped at 35 per cent and the weights of all others are capped at 20 per cent. Free-float figures and weightings are reviewed on a quarterly basis in March, June, September and December.
The Dow Jones EGX Egypt Titans 20 Index is part of the Dow Jones Titans index series. The series comprises the Dow Jones Global Titans 50 Index, 19 global Dow Jones Sector Titans 30 indexes, 22 Dow Jones Country Titans indexes, five Dow Jones Regional Titans indexes and seven Dow Jones Islamic Market Titans indexes.
