CSE bounces back

THE CYPRUS Stock Exchange (CSE) reacted positively to an upturn in European and Asian markets yesterday, with titles listed on the CSE general index rising by 1.4 per cent, with bank shares leading the increase.

The CSE suffered a beating last week which carried over to Monday when the general index fell by 3.42 per cent. However, yesterday the market showed signs of recovery with Bank of Cyprus (BoC) shares rising by €0.24 to end at €7.78. Marfin Popular was the only of the three major banks to show a drop of €0.04 to close at €5.60 while Hellenic Bank managed just a small climb of €0.01 to end at €2.67.

International markets reacted positively to results reported by two major investment banks, Lehman Brothers and Goldman Sachs. Both reported sharp falls in profits for the first quarter of 2008 but the results were better than expected.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.