Shares recover as BOC edges up in Greece

Equity prices on the Cyprus Stock Exchange (CSE) recovered 1% on Monday as Bank of Cyprus (BOC) shares recovered higher on the ASE and in turn helped the local bourse to remain in positive teritorry for most of the day.

The GENX closed 0.9% higher at 87.30 points, the FTSE/CySE 20 large cap was up 1.55% at 405.85 while the CSE Main/Parallel market index closed 1.55% higher at 1210.84 points, on total volume of CYP 834.102 on 1256 trades.

Advancers and decliners were about the same, with 35 titles closing higher, 110 unchanged and 30 declining, according to AGFN, the CSE data provider.

Bank of Cyprus (BOC, up 2.2% at CYP 1.84) was the most active and took comfort from the fact that its share price in Greece, which closed at EUR 3.16 on Friday, continued edging higher and by 1.30pm was at EUR 3.18 or CYP 1.8540.

Laiki Bank (CPB, up 0.76% at CYP 1.33) was the second most active, followed by SFS, up 2.27% at 9 cent, while Louis Public Co. (LUI) reporting its preliminary 2004 results today was up 0.96% at 21 cent and was the fourth most active. Hellenic Bank (HB) continued its decline and touched 38.6 cent.