Cyprus Internet Directory Jobs In Cyprus
  Cyprus Internet Directory Search       
Google Search
Cyprus Internet Directory Search
Cyprus Comming Events    Cyprus 
Cyprus News Articles    Cyprus News 
and Articles
Cyprus Guide    e Guide
to Cyprus
Quick Links

By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
Read More

SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
Read More

By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
Read More

Cyprus Internet Directory [ Key European share index at record closing low ]

Key European share index at record closing low

Key European share index at record closing low
March 03, 2009

A key European stock index fell to a lifetime closing low on Tuesday, led down by oil stocks as crude prices slipped towards $40 a barrel.

The FTSEurofirst 300 fell 1.6 percent to close unofficially at 671.51 points, the lowest close since the index's inception in July 1997.

"There is disappointment that the interventionist policies of governments aren't coming together fast enough," said Mike Lenhoff, chief strategist at Brewin Dolphin.

"The market is being burdened with such huge cash calls and issuance of corporate debt, as well as government stock," said Lenhoff.

European credit default swap spreads widened sharply on Tuesday, in response to the deteriorating economic climate and growing financial industry losses.

Crude prices, which slumped 10 percent on Monday, failed to stage a recovery and hovered around the $40 mark amid worries about demand in th face of worldlwide economic sdowdown. BG Group fell 5.3 percent as its planned takeover of Australian coal seam gas firm Pure Energy moved closer.

BP fell 4.1 percent after announcing it would scale back its near-term oil and gas production growth target, as falling oil prices prompt the company to rethink investment plans.

Total, ENI, Royal Dutch Shell, and Statoil were between 2.3 and 4.6 percent lower.

Bank stocks, the worst affected by the stock slump that has accompanied the crisis on the world's credit markets, were broadly lower.

HSBC which fell after announcing a 12.5 billion pounds rights issue on Monday, was down another 1 percent.

Lloyds, Credit Suisse, UniCredit and Barclays were down between 2.5 and 7.9 percent.

Across Europe, the FTSE 100 index fell 3.1 percent, Germany's DAX was down 0.5 percent, while France's CAC 40 fell 1 percent.

"The uncertainty about the financial ramifications of the bail-out measures for government budgets and the uncertainty as to how the various capital tranches of the banks will be handled in the event of nationalisation are currently weighing on the market," said analysts at UniCredit in a note.

(Source: Financial Mirror,

Article Options

Email to a friend Email To A Friend     Print Article Print Article     Add Article To Favorites Add Article To Favorites


Other Related Articles

Cyprus News Article Submission

If you have an article and you wish to submit it to our database please send us an email. In your email subject quote "Article Submission" and attach the article to the email. To email us Click Here

Cyprus Holiday Villas-Investment Properties

A wide range of holiday villas, investment properties, building plots and apartments in Cyprus for sale by owner. Save money on your holiday villa in Cyprus and enjoy the holiday feeling for ever.