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On the last trading session of May 2006 the General Index reached 2.600,94 points, representing a relative decrease of 3,29 %. The value of shares traded also exhibited an increase of 127,89 % compared to the previous month.
It is worth mentioning however, that the highest level the index reached for the month was 3.017,48 points. The other Market Indices reached the following levels: Main Market reached 2.654,64 , Parallel Market 1.120,35 , Alternative Market 1.098,12 , Investment Companies 1.488,50 points. On a sectoral level, sub-indices reached the following levels: Banking sector 2.922,14 , Hotels 1.225,20 , FTSE/CySE20 884,29 and finally the FTSE Med 100 reached 9.352,72 points.
The market capitalisation of shares (excluding Investment Companies Market) reached £4,41 billion. According to this month’s results, the Main Market accounted for 49,37 % of the total market capitalisation, the Parallel Market 1,93 %, the Alternative Market 6,37 %, the Investment Companies Market 2,30 % and the Bond Market 39,65 %. Moreover the total market capitalisation, including the Investment Companies Market, Warrants and the Bond Market reached £7,640 billion compared to £7,639 billion the previous month, registering an increase of 0,02 %.
The total value of transactions during the month in review reached £161,49 million, with an average of 7,3 million per trading session. The Financials sector contributed 81,85% to the total value traded, which was the highest, whereas the Government Bonds sector had the lowest contribution with 0,02% . Investors primarily focused their interest on the shares of “ Bank of Cyprus Public Company Ltd ” and “ Cyprus Popular Bank Public Company Ltd ” with 28,06 % and 22,87 % respectively.
Listed Companies news
On the 3rd of May 2006, the CSE Council announced that it has approved the listing of 323,816 ordinary shares of the “Bank of Cyprus Public Company Ltd”, which have resulted from the exercise of options 2001/2007, which were issued and allocated to the Group’s staff. The above titles started trading on May 5, 2006.
On the 4th of May 2006, the CSE Council announced that the issued share capital of “D & M Telemarketing Public Ltd”, which amounted to £770,000 divided into 7,700,000 shares of nominal value £0.10 has been reduced based on a court decision to £539,000 divided into 7,700,000 shares of nominal value £0.07. The above change has been effective since Wednesday, May 10, 2006.
On the 5th of May 2006, following the announcement dated April 28, 2006, the CSE announced that the suspension of trading of titles of Leda Investment Public Company Ltd would continue until Friday, May 12, 2006 (inclusive) following the Company’s request for a smoother completion of the transfer of shares offered by the acceptors of Mr Konstantinos Velanis’ offer and the dispatch of cheques to the acceptors. This decision was taken pursuant to Article 183 and 184 of the CSE Law for the protection of the investing public.
On the 8th of May 2006, the CSE Council announced that it has accepted the listing of 4.50% State Nominal Bonds, 2nd Series 2006 - Maturity 2016, with a date of issue 30/3/2006, of total value £50,000,000, which have resulted from an auction held on March 28, 2006, pursuant to Article 58(1) of the CSE Law. The trading of the above bonds started on Thursday, May 11, 2006.
On the 8th of May 2006, the CSE Council announced that it has accepted the listing of 4.25% State Nominal Bonds, 1st Series 2006 - Maturity 2011, 2nd issue with a date of issue 30/3/2006, of total value £50,000,000, which have resulted from an auction held on March 28, 2006, pursuant to Article 58(1) of the CSE Law. The trading of the above bonds started on Thursday, May 11, 2006.
On the 9th of May 2006, the CSE Council decided to transfer the companies presented in Part A.1 below from the Parallel Market to the Alternative Market pursuant to provision (a) of Paragraph 2.2.2 of KPD 596/2005 on the non-observance of the continuous obligations of the market that the company is listed in, and the non-incompliance with the obligation for a minimum stock market value, which is £4,000,000 for the Parallel Market.
A1. From the Parallel Market (minimum stock market value £ 4,000,000) to Alternative Market
- K. Athienitis Contractors Developers Public Ltd
- MFS Holdings Public Company Ltd
A2. From the Alternative Market (minimum stock market value £600,000) to the Special Trading Category
- Cyprint Public Ltd
- Efremico Holdings Public Ltd
- Modestou Sound &Vision Public Company Ltd
- Palinex Trading Public Ltd
- Pipis Bros Farm Ltd
- Plyntex Public Ltd
- R.A.I. Consultants Public Ltd
- Spidernet Services Public Ltd
- D & M Telemarketing Public Ltd
- Unifast Finance & Investments Public Company Ltd
- Exelixis Investments Public Ltd
- Harvest Capital Management Public Ltd
- Ishis Investments Public Ltd
- Karyes Investments Public Company Ltd
- Laser Investments Public Ltd
- Leda Investments Public Company Ltd
- Global Consolidator Public Ltd
- Efremico Holdings Public Ltd
- SAFS Holdings Public Ltd
- Plyntex Public Ltd
- •A.L. Prochoice Group Public Ltd
- Pipis Bros Farm Ltd
- Xenos Travel Public Ltd
Further information regarding the above transfers of the companies into the CSE Markets is available through the web-site of the Cyprus Stock Exchange (http://www.cse.com.cy/en/announcements/textfiles/2006/ANN18215.htm).
On the 11th of May 2006, the CSE Council announced that it has accepted the listing of 52-week Treasury Bills (30/3/2006 – 29/3/2007) of total value £80,000,000, which have resulted from an auction held on March 28, 2006, pursuant to article 58(1) of the CSE Law. The above titles started trading on Thursday, March 11, 2006.
On the 12th of May 2006, the Cyprus Stock Exchange announced that the titles of New Marathon Tours Public Co Ltd is will continue to be traded in the Special Trading Category pursuant to the Provisions (c) of Paragraph 2.2.3 of KPD 596/2005 on the transfer of companies in the Special Trading Category due to the uncertainty for their viability, as announced in the report on financial statements for the year ended December 31, 2005.
On the 15th of May 2006, the CSE Council announced that it has approved the listing of 15,615 ordinary shares of the Hellenic Bank Public Company Ltd, which were offered gratis to its staff members. The trading of the above titles started trading on May 17, 2006.
On the 15th of May 2006, the CSE Council announced that it has approved the listing of 193,517 ordinary shares of Options Cassoulides Public Company Ltd, which have resulted from the Public Offer of Options Eurocongress Ltd to the shareholders of I.G Cassoulides & Son Ltd dated May 18, 2000. The trading of the above titles started on May 17, 2006.
On the 22nd of May 2006, the CSE Council announced that it has approved the listing of 37,934 ordinary shares of Empire Capital Investments Public Ltd, which have resulted from the Public Offer for the acquisition of PSD investments Public Ltd. The trading of the above titles started on May 24, 2006.
On the 26th of May 2006, the CSE Council in agreement with the SEC decided to delist the titles of Worldmax Investments Public Ltd from the CSE pursuant to Article 178 of the CSE Law due to the omission on behalf of the Company to issue its Annual Report and Accounts for the year ended December 31, 2004. The Company has not issued its Annual Report and Financial Statements for the year ended December 31, 2005. The titles of the above company delisted from the CSE on Wednesday, May 31, 2006.
On the 29th of May 2006, the Cyprus Stock Exchange announced the suspension of trading of titles of MFS Holdings Public Company Ltd from Monday, May 29, 2006 in view of the intention of Aspis Group of Companies SA to submit a Public Offer for the acquisition of 50% of the issued share capital plus 1 share of MFS Holdings Public Company Ltd for 30 cents per share. This decision was taken pursuant to Article 183 of the CSE Law for the protection of the investing public.
Semi-Annual Review of Indices
(i) Regional Index FTSE MED 100
On the 4th of May 2006, the representatives of the Athens Exchange, the Tel-Aviv Stock Exchange, the Cyprus Stock Exchange and of FTSE Group Index had a meeting at the premises of the Cyprus Stock Exchange comprising the Advisory Committee for the FTSE-Med 100. The FTSE - Med 100 Index which was launched on the 19/6/2003, is composed of 100 stocks of the three Exchanges, some of which are also listed on US and European securities markets. The Advisory Committee of the index consists of representatives from the three Exchanges and from the Global Index provider “FTSE Group”. During this meeting, the committee reviewed the operation of the index for the six month period between November 2005 – April 2006, in accordance with its Ground Rules, which are based on international standards. It was unanimously agreed that during the period of operation of the FTSE Med 100 Index until today, the index achieved the basic aim of strengthening the cooperation between the three Exchanges in the region, offering at the same time a useful tool to the investors in the three countries and internationally, in order to assess trends and developments in these markets. Having applied the Index Ground Rules, one stock listed on the Cyprus Stock Exchange (Muskita Aluminium Industries Plc) will be added in the index for the next semester (until November 2006) and one stock listed on the Cyprus Stock Exchange (Vision International People Group Public Ltd) which was included during the previous semester, will be deleted. The Index is composed of 49 stocks listed on the Tel-Aviv Stock Exchange, 46 stock listed on the Athens Exchange, and 5 stocks listed on the Cyprus Stock Exchange. The report covering analytical data and past performance of the FTSE Med 100 Index will be available on the web-site of FTSE www.ftse.com, two weeks after the meeting of the Advisory Committee.
(ii) FTSE / CySE 20 Index
On the 4th of May 2006, the CSE Council announced the new composition of the FTSE/CySE20 Index, pursuant to the evaluation carried out on Thursday 4, May 2006 by the FTSE/CySE20 Advisory Committee with the participation of a representative of FTSE International. The Advisory Committee has reviewed the operation of the index for the six-month period between October 2, 2005 and March 31, 2006. It is noted that the index consists of 20 selected titles of the CSE, which comprise a representative sample of the Cyprus stock market. Following the review, it has been decided that the composition of the FTSE index for the next six months will be as follows: 1.Bank ?f Cyprus Public Company Ltd (1.00), 2.Cyprus Popular Bank Public Company Ltd (0.75), 3.Hellenic Bank Public Company Ltd (0.75), 4.Louis Public Company Ltd (0.40), 5.Muskita Aluminium Industries Plc (0.40), 6.Pandora Investments Public Ltd (0.40), 7.A. Tsokkos Hotels Public Ltd (0.40), 8.Petrolina (Holdings) Public Ltd (0.40), 9.Cyprus Trading Corporation Public Ltd (0.75), 10.SFS Group Public Company Ltd (0.75), 11.Woolworth (Cyprus) Properties Public Ltd (0.75), 12.A. Zorbas & Sons Public Ltd (0.40), 13.Logicom Public Ltd (0.50), 14.Orfanides Public Company Ltd (0.40), 15.KEO Public Company Ltd (0.50), 16.Atlantic Insurance Company Public Ltd (0.40), 17.Options Cassoulides Public Company Ltd (0.50), 18.Libra Holidays Group Public Ltd (0.40), 19.Leptos Calypso Hotels Public Ltd (0.40), 20.D.H. Cyprotels Public Ltd (0.50).
On the 10th of May 2006, following an announcement dated May 4, 2006 and following a decision taken by FTSE/CySE20 Special Advisory Committee, the Cyprus Stock Exchange announced that the criterion of FTSE/CySE20 Ground Rules on the minimum the percentage dispersion for the participation in the Index has changed. This will be reduced from 30% to 25% of the share capital of each listed issuer, with effect from December 1, 2006, the date after the revision of the Index.For this decision, the Committee has taken into account the recent CSE Regulatory Decisions that differentiate the minimum percentage of dispersion for each CSE Market (e.g. Main , Parallel, Alternative, and Shipping).
