For the upcoming November 2019 Semi Annual Index Review (SAIR) related to MSCI indicator, Beltone Financial expects a total of 11 deletions from North Africa’s equity market, mentioning that Egypt is not the worst, but ranked fourth.
Egypt’s expected outflows recorded $18m, while Morocco witnessed $26m, and Tunisia recorded $7m.
In Egypt, Beltone’s analysts expects the deletion to be for Juhayna Food Industries (JUFO EY) with expected outflow of $14m, Sidi Krier Petrochemicals (SKPC) with $2m, and Alexandria Mineral Oils Company (AMOC EY) with expected outflows of $2m as they fail the liquidity and market criteria.
In the MENA and GCC regions, they expect Qatar to witness the largest absolute outflows in the region, with aggregate cumulative passive outflows reaching $76m. Saudi Arabia is to witness total passive outflows of $8m, while the UAE’s total outflows amount to $2m.