Pre-Trading Thoughts

MSCI published its May 2024 Index review. TMGH replaced HRHO in Egypt’s Standard Index. HRHO is added to Egypt’s Small Cap Index, while CLHO, CIRA, HELI, TMGH, and MFPC were deleted from Egypt’s small cap index. The CBE absorbed liquidity worth EGP1.050 trillion from 32 banks within the framework of open market bids. All bid requests submitted by banks were accepted at an interest rate of 27.75%. The government is seeking to hedge against the risks of rising global oil prices for about 25% of...