MSCI adds EFG Hermes to global standard index, e-Finance enters small-cap index

MSCI tweaks Egyptian firms included in its global indices: EFG Hermes has been added to MSCI’s standard equities index from its small cap index following its semi-annual review. E-payments giant Fawry has been moved from the standard index to the small-cap index, and is joined by state-owned fintech player E-finance, which makes its index debut. Meanwhile, real estate firms Palm Hills Developments (PHD) and Heliopolis Housing were removed from the small-cap index. See the revised index lists, which come into effect on 31 May, here (pdf) and here (pdf).