CSE grand road show in Athens

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A high level delegation from Euronext, representing the interests of the stock markets of France, Belgium, Holland and Portugal are arriving on a fact-finding mission to Cyprus and will hold talks with CSE officials.

CSE Chairman Akis Kleanthous said the meeting is part of the Exchange’s drive to broaden its cooperation with foreign bourses.

“Following the separation of the market into five categories and efforts to attract government bond trading on the CSE, we believe that the CSE is now well placed to seek cooperation agreements to broaden its product range and proceed with its own development plan,” said Kleanthous.

Towards the end of October, the CSE will commence its road shows abroad, with the first planned for Athens.

“We are targeting institutional investors, including the pension funds, offshore companies and mutual fund management firms in Greece,” said Kleanthous.

The first meeting is planned for September 28, when the CSE will inform Greek institutional investors on recent developments.

“This will be the prelude before the grand presentation towards the end of October in Athens, which will also include representatives from the Main market companies as well as local analysts,” said Kleanthous.

The objective is to attract Greek institutionals to invest in the stocks of the 17 Main Market participants, while the CSE intends to hold more contacts with officials of the ASE towards facilitating the launch of a common trading platform between the two exchanges.

CSE RECOVERS

In yesterday’s trading, the shares of the two main banks led the CSE higher following Monday’s modest declines after the new sector indices made their debut at the base level of 1000.

Led by satisfactory gains by Bank of Cyprus and Laiki, the CSE Main/Parallel index recorded a 1.09% recovery, closing at 994.13 points. The CSE All-Share index recorded a 0.46% gain, ending at 74.56 points on total volume amounting to CYP 199.000.

The Main market index ended 1.1% higher, the Parallel market was 0.7% firmer while the Alternative index closed 0.72% higher.