Market cap up by CYP 1.1 bln
The Cyprus Stock Exchange index, GENX ended 2005 with gains of 51.63% marking its first positive performance following four years of declines and probably one of the best returns among emerging markets.
The GENX, which made its first debut in March 1996 from a base of 100 and during the course of its life span, rallied to a high of 850 at the peak of the 1999 rally but then tumbled to 70 in 2004, was axed end of 2005 by the CSE Council as part of the drive to look forward and help forget the past mistakes.
The GENX ended the last trading day of 2005 at 110.01 points, up 51.63% compared to 72.55 closing price of 2004. A year ago in 2004, the index had lost 9.97%.
The FTSE/CySE 20 large cap index ended with gains of 70.42% at 576.87 compared to 338.50 end of 2004, while the Main/Parallel index, which made its debut at 1000 base in September 2004 ended at 1704.76, up 68.41% compared to its 2005 start level of 1012.27 points.
The total market capitalisation of the Cyprus stock exchange equities amounted to CYP 3.33 bln end of 2005, up CYP 1.15 bln compared to the total market cap of CYP 2.18 bln end of 2004.
The market cap of the warrants amounted to CYP 10.6 mln only.
Best and Worst
Main Market: The best performing stock of the Main Market was the shares of Bank of Cyprus Public Co. Ltd., which ended 75.5% higher at CYP 2.63 compared to its closing price of CYP 1.50 end of 2004. The BOC performance was also better than the performance of the Main index, which having ended at 1728.03 points, was up 70% year-on-year.
Laiki Bank, the second largest cap stock on the CSE ended 62% higher at CYP 1.83 compared to its start price of CYP 1.13, while Hellenic Bank ended 52.5% higher at 57 cent compared to 37 cent start price.
The worst performer in the Main market was Libra Holidays Group, down 49.8%, which was hampered by the August 14 Helios Airways tragedy.
Parallel Market: Laiki Investments was the best performer in the sector, gaining 131% y/y compared to the Parallel index performance of 16.8% and a closing price of 1085.70. The worst performer in the sector was C.A. Papaellinas, down 19.87%.
Alternative Market: The Alternative index gained 22.08% during the year ending at 1037.18 points, with Brainstorm Enterprises the best performer, gaining 261% y/y as it became the subject of a takeover bid. Among the others, Salamis Tours was the best, as it racked up 232% gains during the year. Chris Joannou was the worst performer in the sector, down 77% followed by Suphire Group, down 75.6%.
Investment Market: The sector index ended at 1133.53 points for a gain of 21.58% with Finikas Investments, the subject of a takeover bid gaining 225% y/y, while Regallia, a member of the troubled Suphire Group was the worst performer, shedding 93.33% of its value.
