Last minute sale hurts HB

Hellenic Bank Pcl (HB) shares nosedived 3.2% on Monday after a large 100.000 share sale at the very last minute knocked the stock from CYP 1.23 to a close of CYP 1.19 in a relatively quiet day on the CSE.

“HB was knocked down at the very last minute by a 100k sell order, which wiped off all the day’s gains,” a broker told the Financial Mirror.

HB, which was the fourth most active stock on the CSE on Monday had a total volume of CYP 221k of which half was due to the last minute deal.

The CSE GENX closed Monday 0.5% lower at 2647.68 points on CYP 2.06 mln total volume.

Laiki Bank Pcl (CPB) was the most active on CYP 671k volume, closing 0.37% lower at CYP 2.70, a day ahead of the release of its first half results. Laiki will report its first half results, expected by the Financial Mirror at CYP 45 mln, on Tuesday at 4.30pm.

Bank of Cyprus Pcl (BOC), the second most active stock ended 0.24% lower at CYP 4.12 on CYP 465k volume as it still digested the aftershocks of the 12 mln share offering to institutional investors relating to NPLs dating back from 2000.