MCB Bank to be removed from FTSE All Cap, PPL downgraded to Small Cap

MG News | August 21, 2023 at 09:17 AM GMT+05:00

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August 21, 2023 (MLN): MCB Bank is all set to be removed from the FTSE All Cap index with an estimated outflow of $9 million while PPL has been downgraded to the small-cap segment, according to the results of FTSE September 2023 Semi-annual Index Review.

Consequently, some market players are poised for a transition as L&M Capital migrates out from the FTSE All World index to the Small Cap segment.

On a country level, Pakistan’s overall weight will be broadly unchanged at 0.04%.

Despite these shifts, market expectations suggest minimal disruptions as FTSE trackers primarily adhere to an all-cap strategy, a report by EFG Hermes noted.

Changes will be effective as of COB 15 September 2023. We note that there will be a query period from 21 August to 1 September 2023, before the results are considered final from September 4.

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