Monday, September 10, 2012

Today's Major Market Move: Cypriot Stock Market Gains 17% in a Single Day

Being the hardest hit economy in the EU and having seen the biggest decline in benchmark equity index in recent times, Cyprus comes up quite frequently as the subject of our Major Market Move posts. We are going to add to that tally again today where the Cypriot stock market made a staggering one day gain of 17%. That's the equivalent of a 2000+ point move in the DJIA. The next largest gainer was in Greece which could manage a measly 6.1%. Here's the top 10 performing benchmark equity indexes for Monday's session:

Click here to go to the live table.
It was less than 2 weeks ago when we featured the Cypriot stock market in our Major Market Move post for having a monthly gain of 21%. If a trader is looking for volatility, Cyprus is the place to go. However even with today's huge one day gain, stocks there still have a lot of ground to make up. Here's the year to date chart of the benchmark General Market CSE Index:

Click here to go to the live chart.

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