Stocks rally, CYP slips

Share prices rallied 2% with Bank of Cyprus leading the way as property jitters helped the stock market, while the CYP slipped against the euro and was expected to stay there until the start of the tourist season, according to the Financial Mirror issue 603, on January 12, 2005.

Equity prices on the Cyprus Stock Exchange rallied by 2% on the previous day with a massive increase in volume prompting a growing number of investors to flock back to the stock market in anticipation of better returns, as many blue chips are expected to announce their first dividends since 2001. Jitters in the property market amid concern that having