Telecom Egypt joins FTSE EM index as EGX 30 rises 0.20%

The EGX 30 closed up 0.2034% at 55,277.0 on August 25, after a 0.34% decline flagged in market coverage a day earlier. Telecom Egypt drew focus after its CEO was set to step down on August 24, reports Telecompaper. At the same time, Telecom Egypt was upgraded to the FTSE Russell Emerging Mid Cap index and advanced to the FTSE Emerging Markets Index after its market capitalization reached $3.9 billion, according to the State Information Service and Kalkine Media. Corporate flow stayed active with at least 10 regulatory filings on August 25, including treasury-share purchases by Madinet Masr and Pioneers Properties For Urban Development - PRE Group.