Cairo's Beltone Financial has made a new index tracking the prices of the liquid GDRs of Egyptian companies traded in London, as a proxy for the EGX30 benchmark index that has seen no movement since the Egyptian stock exchange was closed on Jan 26.
Traders in New York have already pushed up the price of an Egypt ETF, and with the Egyptian exchange set to reopen Feb 13, the GDR index suggests either that London has got it wrong, or Cairo has some catching up to do:
Source: Beltone Financial
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