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Press: New investors and the lurking dangers

01/11/2002 09:13
The two major issues of today’s financial press are the new investors in the CSE and their indifference to create a trading account necessary for trading, as well as the concerns over a new investors’ ‘encirclement’.

The “Economic” inset of newspaper “Alithia” under the title “No trading accounts for CSE investors” mentions that stockbrokers “sound the alarm” for a possible jostle in the creation of trading accounts, after the surprising investors’ interest for trading in the CSE.

According to the report, the shareholders that proceeded to the necessary arrangements to obtain their own trading account to CSE Central Registry were very few. “A small number of investors proceeded to the creation of a trading account and this will probably lead to a jostle within the next few days” says the CSE.

At the same time, the CSE administration warns that “investors cannot trade without a trading account”.

Elsewhere, the newspaper highlights that Athens Court took no measures against the Board of Directors of Sharelink Financial Services (they were actually found not guilty), who participated in the Board of Directors of the Greek Company “Astraia”. On the contrary, the Court imposed restrictive measures against four Board members of “Astraia”.

The “Economy” inset of newspaper “Phileleftheros” under the title “New outburst of rises of 7.27%” points out that the higher the market and the share prices are “the more intense the reputations for a new significant rise and the dangers for a possible investors’ ‘encirclement’ become”.

The report also deals with the special analysts and their persistence that the specific recovery is dangerous. According to them “the hopes for a possible solution of Cyprus problem and the prospects of island’s accession in the EU will not have as positive effects-in the economy and the development of the listed companies- as expected in the short run at least. Therefore, over-enthusiasm is undue”. They also believe that sudden rises will soon cause sudden falls.

Elsewhere, the newspaper quotes that the new measure concerning the pre-session end time is applicable since yesterday.

The “Economy” inset of newspaper “Simerini” under the titles “Days of euphoria in the CSE” and “Market ‘jackals’ on the lookout” mentions that cheap shares (no more than 10 cents) “have become the target of gamblers, as many of them hit a limit up”.

Furthermore, the report under the title “Analysts foresee the comeback of the phenomenon of bubble” highlights that the unexpected development in the CSE has led several analysts to worry over a comeback of the phenomenon of bubble. According to analysts, a displeasing turn in Cyprus problem will negatively affect several shareholders, as shares will collapse.

Elsewhere, the newspaper quotes that the Parliament discusses the proposal of Christos Klerides over bounce back cheques.