Global sell-off hits Cyprus

Cyprus’s benchmark stock index posted it sharpest single-day drop in more than two years on Monday as foreign investors, worried about drops in global markets, dumped banking shares.

The GENX ended 8.43% lower at 3707.71 points on Monday on EUR 14.3 mln volume, following the general slump in all global equity markets. Bank of Cyprus ended 8.11% lower at EUR 9.74 on EUR 2.43 mln volume, while Marfin Popular Bank slumped 10% to EUR 7.40 on EUR 4 mln volume. Hellenic Bank ended 5.73% lower at EUR 3.62 per share.