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CSE pressured by banks

27/01/2004 13:12
The CSE general index ended in the red on Tuesday, slipping 0.5% to 82.7 points, pressured by the banking stocks, as the Bank of Cyprus and the Popular Bank recorded losses of 1 and 2 cents respectively. FTSE finished 0.9% lower at 346 points.

The arbitrage between the Bank of Cyprus share and BOC in the ASE reached 2 cents, as by the time this text was in progress BOC in the ASE recorded gains of 0.4% to £1.42. The share in the CSE closed at £1.40 and at -0.7%.

The trading volume totaled £667 thousand with the Bank of Cyprus share concentrating 56.7% or £378 thousand of the turnover. Lanitis Bros, which attracted 4.8% or £32 thousand of the volume due to pre-agreed transactions, remained unchanged at 15.7 cents.

The Hellenic Bank remained unchanged at 57 cents, absorbing 10.9% of the turnover, while the Hellenic Bank warrant with 3.9% of the volume put on 1.3% to 15.6 cents. On the other hand, the Popular Bank with 3.3% of the turnover fell 1.8% to £1.12.

Overall, 18 securities went up, 36 fell and 21 remained unchanged.