BOC hits new record in Greece

Bank of Cyprus shares closed Tuesday at a fresh record high of EUR 4.24 or CYP 2.43 on heavy volume of EUR 4.42 mln or CYP 2.5 mln in Greece, which was four times the total volume transacted on the CSE.

The widening gap between the traded price in Greece and Cyprus is normally seen as a good excuse to pull the share price trading on the CSE higher.

On Tuesday, BOC shares closed 1.2% higher at CYP 2.37 on the CSE on total volume of CYP 277.000, with the Bank’s market capitalisation now comfortably above the CYP 1.1 bln level. Since the start of this year, the BOC shares have gained 58.1%, over passing the gains of the CSE and the ASE.

The CSE GENX, which closed up 0.52% at 98.37 points on Tuesday on total volume of CYP 618.030 on 565 trades has gained 35.5% since the start of the year. The FTSE/CySE 20 large cap index, now at 498.29 points is up 47.2% since the beginning of the year while the CSE Main/Parallel market index, which closed at 1472.75 is up 45.5% since the start of the year.

During Tuesday trading, 21 titles closed higher, 22 lower, 29 were unchanged while 93 did not record any trade.