BOC hits EUR 9 or CYP 5.20 on ATHEX

…Proton snaps more INFw

 

Bank of Cyprus shares hit a new record high of EUR 9.02 or CYP 5.20 on the ATHEX, far outstripping the performance of the ATHEX, which was up 1% at 4053 points before the close.

On the CSE, the BOC shares closed 1.85% higher at a fresh record high of CYP 4.96 on CYP 2.2 mln volume. Once the psychological level of CYP 5.00 is given, then the next objective according to the Financial Mirror charts becomes the CYP 5.30 level.

The most active stock on the CSE on Thursday was however the shares of Laiki Bank (CPB) closing at a fresh record high of CYP 3.38, up 2.42% on CYP 2.8 mln volume, far outstripping the 1.98% gain of the CSE GENX, which also closed at a fresh high of 3242.11 on total volume of CYP 9.9 mln.

With the shares of Marfin FG at EUR 36.40 and based on the swap rate according to which the Laiki and Marfin shares will be swapped, then the correct price of Laiki should have been CYP 3.65, indicating a lot of room on the upside until the gap is closed.

Hellenic Bank (HB) was the third most active stock on the CSE, closing also at a fresh six-year high of CYP 1.66, while other active stocks included SFS, up 2.75% at 11.2 cent and Interfund, up 0.5% at 20.2 cents.

It was also announced that Proton Investment Bank of Greece purchased a further 426.013 warrants of INF in the price range of 0.0986-0.10, lifting its stake from 10.8% to 15.7%. INF also announced new purchases of shares at 19.7c under its share buyback programme.