Cyprus bourse scraps banking index after bailout

“Cyprus’s bourse will stop compiling a separate index for banking shares from October 31 after the number of listings in the sector was impacted by Cyprus’s recent bailout, it said on Tuesday.  Two of the largest listings in the index, Laiki Bank and Bank of Cyprus BOC.CY, stopped being traded on the island’s stock exchange in March.  Under terms of Cyprus’s 10 billion euro bailout from international lenders, Laiki was wound down and Bank of Cyprus recapitalized with deposits from its larger clients.  It is unclear when trading in Bank of Cyprus will resume.  Trading in Hellenic Bank shares would continue to be reflected in the general index, a stock exchange official said.”

http://www.reuters.com/article/2013/10/22/us-cyprus-bourse-banks-idUSBRE99L08O20131022

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