BOC closes above CYP 2.30 in Greece

As CSE GENX hits 3 year high

Bank of Cyprus shares roared to a fresh four year closing high of EUR 4.02 or CYP 2.30 in Greece in brisk trading on Tuesday, as the shares in Cyprus took a pause from a dazzling rally that has seen the stock gain by 50% since the start of the year.

In active trading on Tuesday, BOC shares closed at EUR 4.02 after touching an intra-day high of EUR 4.04 or CYP 2.3150 on 1.25 mln shares volume for a value of EUR 4.96 mln or CYP 2.8 mln, about double the total volume transacted on the CSE on Tuesday.

In Cyprus, the BOC shares paused after eight uninterrupted gains, ending Tuesday trade at CYP 2.22 for a 5.2% weekly gain and taking its year-to-date gains to 48.1%.

The CSE GENX meanwhile hit a three-year closing high of 94.87 points on Tuesday following strong gains recorded by the banking sector, bringing its year-to-date gains to 31% amid expectations of more gains to come in the following weeks.

The FTSE/CySE 20 was also up at a fresh closing high of 472.33 points for ytd gains of 39.5%, while the CSE Main/Parallel index closed at a record high of 1399.34 for total gains of 38.2% since the start of the year.

The pause in the gains of BOC was countered by strong gains in the shares of Laiki Bank, which closed at CYP 1.53 bringing its gains to 39% while Hellenic Bank also ended at a fresh closing high of 53 cents for total gains of 42%.