Egypt bourse to launch broader EGX 70 price index

CAIRO, Feb 26 (Reuters) - Egypt's bourse will launch a broader stock price index, the EGX 70 , on Sunday to help investors track a larger segment of firms, and will change the name of its benchmark index, the stock exchange said on Thursday.

The new index will measure the performance of the 70 most active companies not already included in the benchmark CASE 30 index .CASE30, whose name will be changed to the EGX 30 index, the bourse said.

The EGX 70 index will measure the change in closing prices and will not be weighted by market capitalisation, the bourse said.

The bourse added that it had also decided to make the EGX 30 index dollar-denominated to better serve foreign investors and help in comparing stock exchange performances or alternative investment instruments. It would update the dollar value of the index at the session's close daily. (Writing by Cynthia Johnston; Editing by Erica Billingham)