Market run comes to an end ALL GOOD things come to an end.

A bullish run which saw share prices soar to record highs on three successive days ended yesterday when the Cyprus Stock Exchange’s all-share index finished lower at 132.46. Volume stood at £6.39 million.

Profit-taking in the blue-chips of the banks, the titles which had made the most gains over recent days, was responsible for yesterday’s slide in share prices, but traders said there was no reason for concern.

“A drop in prices was expected after all these increases,” said Adonis Yiangou of Expresstock Ltd. “No one is worried and everyone is certain that the market will resume its strong run.”

He predicted that volume was set to increase dramatically in coming weeks as brokers become more accustomed to using the fully-automated trading system that made its debut last Friday. There have been no reports of any major glitches in using the new system.

Nearly two thirds of yesterday’s volume – £3.86 million – went to bank stocks. The Bank of Cyprus shed 4.5 cents to close at £5.54, while the Popular Bank closed 3 cents lower at £6.70 apiece.

Hellenic Bank, which came out of hibernation in recent weeks to stage a powerful recovery, also tumbled by 2 cents to close at £3.52.

The banking sector’s sub-index fell by 0.64 per cent to close at 174.66, joining the sectors of manufacturing and tourism in negative territory.

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.