Share prices re­cover, Sev­eris calls for buy

Financial Mirror (Cyprus) - - FRONT PAGE -

Share prices re­cov­ered with in­vestors picking up bar­gains af­ter the CSE shed nearly 9% in re­cent days, while ex­pert fund man­ager Ni­cos Sev­eris called fro in­vestors to buy, not sell, ac­cord­ing to the is­sue 167, on June 19, 1996.

Savvy in­vestors were picking up the pieces from the re­cent CSE crash that saw the mar­ket lose about 9% in a mat­ter of a few days, caused mainly by a lack of liq­uid­ity. Bro­kers and mar­ket lead­ers were call­ing for calm to pre­vent stock prices from fall­ing

CSE pick-up:

fur­ther prices.”

Buy,

to

not

“ridicu­lously

sell:

Con­fer­ence on sanc­tions:

low

Ex­pert fund man­ager Ni­cos Sev­eris said that the sell-off was price-in­duced and not ac­com­pa­nied by big vol­ume. He said that sev­eral rea­sons have caused con­cern, rang­ing from the shift to the new stock mar­ket, out­stand­ing trades un­der the old sys­tem, and mar­gin ac­counts were liq­ui­dated as in­vestors pre­ferred a wait-and­see ap­proach.

the first in­ter­na­tional con­fer­ence of its kind, sup­ported by the Fi­nan­cial Mir­ror, called on the

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