CAIRO, Egypt, March 23, 2009 (GLOBE NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, and The Egyptian Exchange (EGX) today announced that the Dow Jones CASE Egypt Titans 20 Index has been renamed Dow Jones EGX Egypt Titans 20 Index, effective immediately.
The name change reflects the re-branding of the Cairo and Alexandria Stock Exchanges (CASE) to The Egyptian Exchange (EGX).
Dow Jones Indexes and EGX jointly launched the Dow Jones EGX Egypt Titans 20 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 capitalization, sales/revenue and net income. As of March 3, 2009, the top five components per free-float market capitalization of the Dow Jones EGX Egypt Titans 20 Index are Orascom Construction Industries S.A.E. (OCIC.CI), Orascom Telecom Holding (ORTE.CI), Commercial International Bank (Egypt) S.A.E. (COMI.CI), Telecom Egypt S.A.E. (ETEL.CI) and EFG Hermes Holding S.A.E. (HRHO.CI).
The Dow Jones EGX Egypt Titans 20 Index, which is calculated in the Egyptian pound as well as euro and U.S. 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% and the weights of all others are capped at 20%. 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.
Further information on the Dow Jones EGX Egypt Titans 20 Index can be found on the Dow Jones Indexes Web site at www.djindexes.com.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com.
Note to Editors:
About Dow Jones Indexes
A full-service index provider, Dow Jones Indexes develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner of the Dow Jones STOXX indexes, the world's leading pan-European indexes, and together with Wilshire Associates, provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 65 markets. Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. www.djindexes.com
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About EGX
The Egyptian Exchange (EGX) is one of the oldest Stock Exchanges in the World and dates back one hundred and twenty five years.
The Egyptian Exchange (EGX) is the only registered Stock Exchange in Egypt. EGX is a market operator specialized in listing and trading of equities, government bonds, corporate bonds and close ended mutual funds.
EGX is a member of the World Federation of Exchanges since 2005.
Key Competitive Advantages of EGX
-- One of the most open markets in the Middle East & North Africa
(MENA) region.
-- No dividends, capital gain taxes or stamp duties.
-- No controls on foreign investment or repatriation of capital and
dividends.
-- Foreign member firms (brokers) or issuers are treated similarly
like the domestic ones.
-- Settlement is T+2 for all listed securities.
-- Very competitive listing and trading fees in the MENA region.
-- 17 well diversified sectors are represented on EGX including oil
& gas, basic resources, real estate, banks, chemicals, telecom
etc.
-- In 2004, for the first time in Arab countries, an Institute
of Directors was established to foster the Egyptian Code of
Corporate Governance.
Trading Hours of EGX (Sunday through Thursday) Over-the-Counter Market Deals Market 09:45 AM 02:00 PM Orders Market 12:00 PM 01:00 PM Primary Dealers Bonds Market 10:30 AM 02:30 PM Listed Securities Market (On the Exchange) Pre-Opening Session 9:45 AM 10:15 AM Random Closing 10:15 AM 10:30 AM Official Trading Session 10:30 AM 2:30 PM For more information about EGX, please visit www.egyptse.com