40 titles close higher

Bid speculation and the search for the next Cyprus listed company that may become a takeover target helped push 40 titles higher on Friday, mostly small to middle size, at a time when the majors were either lower or unchanged.

The GENX closed 0.27% lower at 104.67, and the CSE Main/Parallel index was down 0.35% at 1637.29 points on Friday, but this was mostly due to the 0.78% drop in the share price of BOC to CYP 2.52 while Laiki Bank and Hellenic Bank were unchanged at CYP 1.76 and 0.55 cent respectively.

Total volume was CYP 1.38 mln on 867 trades with 40 titles closing higher, 15 lower, 20 were unchanged while there were no trades on 86 titles.

Brainstorm was the best performer, up 32% at 28.2 cent but on CYP 28 volume, even though there is a takeover bid offering 53 cent cash for the company.

Lanitis Bros. and Alkis Hadjikyriakou as well as K&G Complex were suspended pending a hostile bid by FBI on LB and a takeover bid by CCCH for the 48% remaining stake in K&G Complex.

Other best performers were ELF, CAR, MSV, ANS, CCCH, ACS, CLA, APC, GLC, MEGA and PHIL all on under CYP 3.000 volume. ALL with CYP 21.766 volume was probably the best real performer, gaining 6.5%, followed by SFS and TSH with decent volumes.

BOC was the most active attracting CYP 945.000 volume, followed by CPB with CYP 172.000 volume.