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CSE extends losses on Fri

16/11/2007 11:21
The CSE hits a 9-week low on Friday, amid a correction in the international capital markets and concerns for the high growth rate of the Cypriot banks in the past three years. The CSE general index (13.30) is recording losses of 1.92% to 4,891.34 points. Since Tuesday, the CSE has lost 11.3%.

BOCY is currently recording losses of 1.83% to €11.82 and Marfin Popular Bank is down 1.97% to €9.94. Since Tuesday, BOCY has slumped 12.1% and MPB 10.8%. According to an announcement released today, Marfin Investment Group proceed with the acquisition of 1,505,174 shares of Marfin Popular Bank of total value €15,163,573.38.

Hellenic Bank is trading at €5 and at -1.57%. Its total losses since Tuesday have reached 11.3%. The CSE Council announced that it has accepted the listing of 1,548,494 ordinary shares of the bank, which have resulted from the exercise of American Type Warrants 2003/2007.

All Main Market titles follow a downward trend. The highest losses of 5.2% are observed in the sector of hotels.

The trading volume amounts to €8 million.

Logicom announced today that its after-tax profit for the first nine months of the year recorded an increase of 19.2% to £3.1 million against £2.6 million in the corresponding period of 2006.

European markets

FTSE in London is down 0.47% to 6,329.7 points, DAX in Frankfurt is losing 0.96% to 7,593.22 points and CAC in Paris is suffering losses of 0.62% to 5,526.61 points.