May 14, 2015 / 11:48 AM / 2 years ago

UPDATE 3-MIDEAST STOCKS-Egypt's bourse drops to 5-month low after MSCI weighting cut

(Updates with Egypt falling further)

DUBAI, May 14 (Reuters) - Egypt's stock index fell to a five-month low in a broad sell-off on Thursday, after index compiler MSCI reduced the country's weighting in its emerging markets index.

The Cairo benchmark dropped 2.5 percent to 8,311 points as nearly all of its components declined. Telecom Egypt, which MSCI excluded from its index in a semi-annual review on Tuesday, tumbled 6.8 percent after falling its daily 10 percent limit in the previous session.

With only three Egyptian companies left in the MSCI index, some analysts have said the country risks eventually being excluded from the benchmark completely. (Reporting by Olzhas Auyezov; Editing by Andrew Torchia)

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