Cyprus Business Now

The Cyprus Statistical Service (Cystat) on Wednesday reported that there was an increase in job vacancies during the first quarter of 2022 when compared to the corresponding period of 2021.

According to the Cystat data, the number of job vacancies increased by 6,113, reflecting a rise of 90.4 per cent year-on-year.

The total number of job vacancies in the first quarter of 2022 reached 12,874, with the same figure in the same quarter of the previous year having stood at 6,761.

Compared to the fourth quarter of 2021, the number of job vacancies increased by 3,231 a quarterly rise of 33.5 per cent

The job vacancy rate in the first quarter of 2022 was 3.2 per cent, while the job vacancy rate in the previous quarter and the first quarter of 2021 stood at 2.4 per cent and 2 per cent respectively.

Finally, the largest job vacancy rates in the first quarter of 2022 were observed in the sectors of accommodation and food service activities (10.2 per cent), administrative and support services (4.3 per cent), healthcare and social work activities (3.4 per cent), as well as professional, scientific and technical activities (3.3 per cent).

The Cyprus Stock Exchange (CSE) this week announced that, during the semi-annual review of the FTSE / CySE20 Index, the participating stocks whose weight exceeds 25 per cent will be weighted at 25 per cent of the Index.

The CSE said that based on the assessment made in the revised composition of the Index, taking into account data valid on June 10, 2022, the share of the company Bank of Cyprus Holdings Plc will be weighted with a capping factor of 0.358528, since it is the only company whose weight exceeds 25 per cent of the Index.

The above change will take effect on Monday, June 20, 2022.

In addition, the Stock Exchange announced that taking into account data valid on June 10, 2022, the shares participating in the CSE General Index, whose weight exceeds 25 per cent, will be weighted at 25 per cent of the Index.

Therefore, the share of the company Bank of Cyprus Holdings Plc will be weighted with a capping factor of 0.376654 since it is the only share of a participating company that exceeds 25 per cent of the CSE General Index.

Moreover, shares participating in the CSE Main Market Index, whose weight exceeds 30 per cent, will be weighted at 30 per cent of the Index.

The CSE added that the share of Bank of Cyprus Holdings Plc will be weighted with a weighting factor (capping factor) of 0.257133.

What is more, the share of Hellenic Bank Public Company Ltd will be weighted with a weighting factor (capping factor) of 1.063719.

The reason for the above two decisions is because they both exceed 30 per cent of the CSE Main Market Index.

The above changes will take effect from Monday, June 20, 2022.

The Cyprus Stock Exchange (CSE) ended Wednesday, June 15 with marginal profits.

The main Cyprus Stock Market Index was at 70.48 points at 12:48 during the day, reflecting a rise of 0.04 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 42.27 points, which represents an increase of 0.02 per cent.

The total value of transactions came up to €34,644.

In terms of the sub-indexes, the main index fell by 0.31 per cent, while the alternative index rose by 0.58 per cent.

The hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Hellenic Bank (-0.45 per cent), Logicom (-1.06 per cent), the Cyprus Cement Company (+0.8 per cent) and Atlantic Insurance (+1.08 per cent).