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Dow Jones Indexes, a leading global index provider, today announced component changes in the Dow Jones CASE Egypt Titans 20 Index and the Dow Jones Islamic Market Titans 100 Index and its three subindexes Dow Jones Islamic Market U.S. Titans 50 Index, Dow Jones Islamic Market Europe Titans 25 Index and Dow Jones Islamic Market Asia/Pacific Titans 25 Index. The changes are the result of a regular annual review of the indexes and will be effective before the open of trading on Monday, June 18, 2007.
El Sewedy Cables (Egypt, SWDY.CI) and Six of October Development & Investment (SODIC) (Egypt, OCDI.CI) will be added to the Dow Jones CASE Egypt Titans 20 Index. Companies exiting the index are Misr Beni Suef Cement (Egypt, MBSC.CI) and Misr Cement Qena (Egypt, MCQE.CI).
FedEx Corp. (United States, FDX), Cardinal Health Inc. (United States, CAH), Applied Materials Inc. (United States, AMAT), and Delta Petroleum Corp. (United States, DPTR) will be deleted from the Dow Jones Islamic Market Titans 100 and its subindex, Dow Jones Islamic Market U.S. Titans 50 and will be replaced by United Technologies Corp. (United States, UTX), CVS Caremark Corp. (United States, CVS), Valero Energy Corp. (United States, VLO) and Marathon Oil Corp. (United States, MRO).
Rinker Group Ltd. (Australia, RIN.AU; RIN)., Hoya Corp. (Japan, 7741.TO; HOCPY) Bridgestone Corp. (Japan, 5108.TO) , Eisai Co. Ltd. (Japan, 4523.TO; ESALY), United Microelectronics Corp. (Taiwan, 2303.TW; UMC), Nitto Denko Corp. (Japan, 6988.TO; NDEKY) and Hynix Semiconductor Inc.(South Korea, 000660.SE) will be deleted from the Dow Jones Islamic Market Titans 100 and its subindex, Dow Jones Islamic Market Asia/Pacific Titans 25 and will be replaced by Samsung Electronics Co. Ltd. (South Korea, 005930.SE), Matsushita Electric Industrial Co. Ltd. (Japan, 6752.TO), Nintendo Co. Ltd. (Japan, 7974.OK; NTDOY), KDDI Corp. (Japan, 9433.TO), Komatsu Ltd. (Japan, 6301.TO; KMTUY), Astellas Pharma Inc. (Japan, 4503.TO), and Sumitomo Metal Industries Ltd. (Japan, 5405.TO; SMMLY))
Hennes & Mauritz AB Series B (Sweden, HM-B.SK) and L'Air Liquide S.A. (France, 12007.FR) will be deleted from the Dow Jones Islamic Market Titans 100 and its subindex, Dow Jones Islamic Market Europe Titans 25 and will be replaced by E.ON AG (Germany, EOA.XE; EON)) and Siemens AG (Germany, SIE.XE; SIE)
Component changes made during the review are also applied to all Dow Jones Islamic Market Indexes to ensure compliance with Shari’ah principles. To determine their eligibility for the Dow Jones Islamic Market Titans 100, stocks are screened based on their industry type and their financial ratios. Excluded are companies engaged in the following lines of business: alcohol, tobacco, pork-related products, financial services, defense/weapons and entertainment. Dow Jones Indexes then screens out companies with unacceptable financial ratios: companies whose total debt divided by trailing 12-month average market capitalization is 33% or more; those whose cash plus interest-bearing securities divided by trailing 12-month average market capitalization is 33% or more and those whose accounts receivables divided by trailing 12-month average market capitalization is 33% or more.
The free-float market capitalization of the reconstituted Dow Jones Islamic Market Titans 100 Index increased to US$7.71 trillion from US$7.23 trillion as of May 31, 2007.
The Dow Jones CASE Egypt Titans 20 Index measures the performance of 20 leading Egyptian stocks traded on the Cairo & Alexandria Stock Exchanges (CASE). The companies are ranked by free-float market capitalization, sales/revenue and net income. The Dow Jones CASE Titans 20 Index is calculated in Egyptian Pounds as well as Euro and US Dollars.
The free-float market capitalization of the reconstituted Dow Jones CASE Egypt Titans 20 Index increased to US$22.586 billion from US$22.113 billion as of May 31, 2007.
Further information on the Dow Jones CASE Egypt Titans 20 and Dow Jones Islamic Market Indexes can be found on the Dow Jones Indexes Web site http://www.djindexes.com.
