20/05/2004 13:09
The CSE general index extended its gains on Thursday, surging 1.5% to 81.9 points, influenced by the banking stocks and especially the Bank of Cyprus, which announced its first quarter results for 2004 at the Annual General Meeting held on Wednesday.
At the AGM, BOC Chairman Solon Triantafyllides said that profitability will continue in 2004, so that the Group be able to proceed to the payment of a dividend. It is worth noting that that the profit after taxation for the first quarter recorded an increase of 75% to £10.6 million compared to the corresponding period of 2003, while core profitability surged 36%.
BOC surged 2% or 3 cents to £1.53, the Popular Bank soared 2.5% or 3 cents to £1.23 and the Hellenic Bank put on 1% to 49.5 cents.
FTSE recorded gains of 1.8% to 364 points.
The trading volume exceeded £1 million, with BOC concentrating 27.1% or £278 thousand of the turnover, CPB 15.1% and HB 1%.
Overall, 34 securities went up, 16 fell and 23 remained unchanged.
At the AGM, BOC Chairman Solon Triantafyllides said that profitability will continue in 2004, so that the Group be able to proceed to the payment of a dividend. It is worth noting that that the profit after taxation for the first quarter recorded an increase of 75% to £10.6 million compared to the corresponding period of 2003, while core profitability surged 36%.
BOC surged 2% or 3 cents to £1.53, the Popular Bank soared 2.5% or 3 cents to £1.23 and the Hellenic Bank put on 1% to 49.5 cents.
FTSE recorded gains of 1.8% to 364 points.
The trading volume exceeded £1 million, with BOC concentrating 27.1% or £278 thousand of the turnover, CPB 15.1% and HB 1%.
Overall, 34 securities went up, 16 fell and 23 remained unchanged.