Laiki pulls CSE to record close

A 2.2% rally on the shares of Laiki Bank helped lift the CSE GENX to a new record close on Friday, with volume on the Bank’s shares passing above the CYP 1 mln for the first time in more than four years.

Laiki Bank shares powered to a record close of CYP 2.33 on Friday on total volume of CYP 1.02 mln and in the process cleared a near-term resistance level of 2.31. The next objective on the charts is the 2.39 level, after which the way should be clear for a move towards 3.01, according to Financial Mirror charts.

Reports that a number of Greek brokers were snapping up Laiki titles helped boost sentiment on the stock.

The shares of Bank of Cyprus meanwhile were moderately up 0.3% at CYP 3.36 on CYP 1.37 mln volume, failing to clear the recent high of CYP 3.38, which is now considered as the near term resistance. In Greece, the BOC shares fell 1.68% to EUR 5.86 or CYP 3.36 from the EUR 5.96 close on Thursday.

Hellenic Bank closed unchanged at 79c. The GENX closed at a fresh closing high of 2148.21 points on total volume amounting to CYP 3.36 mln.