The Cyprus Stock Exchange has decided to extend the opening hours of its Parallel, Alternative and its Investment Companies’ Market. The above Markets will commence one hour earlier, at 10.00 local time instead of 11.00. The Cyprus Stock Exchange said the decision will be effective from June 17, 2008 and falls within the framework of
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Avoiding China, India – prefer Russia, Brazil The credit crunch now experienced in global markets is nothing new and is a cyclical phenomenon that has occurred several times in the past but under different terminology, according to a leading analyst with Julius Baer who forecasts more pain before gain, but nevertheless sees values and opportunities
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PrimeTel, Cyprus’ alternative telecoms provider is eager to become the third mobile telephony player in Cyprus with the money to be raised from its forthcoming initial public offering (IPO) to be used to fund the group’s expansion drive. PrimeTel’s IPO will start on 9 June and will run until 18 June. A total of 15.1
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The combined profits of the listed companies on the Cyprus Stock Exchange (CSE) reporting their results for the January-March period showed an 18.5% year-on-year decline in profits, which, according to Financial Mirror records, is the first drop in earnings since 2005 when the recovery in equity prices started in earnest. Total first quarter profits reported
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Loan growth during the first four months of 2008 jumped by a record 35.4% to EUR 44.52 bln from EUR 32.89 bln in the same period a year ago on the back of higher loans to non-financial organizations and housing loans, according to the April 2008 Monetary Survey of the Central Bank of Cyprus. Total
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According to the Bank of Cyprus Dividend Reinvestment Plan the price at which the final dividend for 2007 will be reinvested into shares is EUR7.74. It is reminded that the price was calculated according to the terms of the Plan, based on the applicable 10% discount on the weighted average closing price of the share
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A. Tsokkos Hotels Pcl (TSH.CY) reported a loss of EUR 4 mln for the first quarter of 2008 which showed a 72% year-on-year reduction compared to the previous year, but this was well expected since due to seasonality factors, hotels like Tsokkos report their worst performance in the first and last quarters of a year
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A Zorpas & Sons Plc posted a weak set of results with first quarter 2008 net profit declining by 65.9% year-on-year to EUR308.000 on the back of higher fixed costs related with the new production line in Larnaca, a higher labour costs base vs. 1Q07, higher raw material and energy costs (not all price increases
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Marfin Popular Bank Pcl (MPB) reported a 38% year-on-year decline in first quarter profit to EUR 104.4 mln compared to EUR 168.96 mln reported in the first quarter of 2007 in line with expectations. A poll conducted by the Financial Mirror among analysts had forecast MPB profits at EUR 103.80 mln. Net Interest Margin (NIM)
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Marfin Popular Bank Pcl (MPB) reported a 38% year-on-year decline in first quarter profit to EUR 104.4 mln compared to EUR 168.96 mln reported in the first quarter of 2007 in line with expectations. A poll conducted by the Financial Mirror among analysts had forecast MPB profits at EUR 103.80 mln. Net Interest Margin (NIM)
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