(AFP, NICOSIA) – Trading on the Cyprus Stock Exchange (CSE) was cancelled Monday because the computer system crashed and not tumbling share prices, the exchange reported.
The CSE said in a statement that efforts were continuing to repair the problem, ahead of Tuesday's session.
It was the first time an entire 90-minute session on the CSE had been blacked out, although trading has been cut short due to similar failures in the past.
The exchange authorities have ruled out sabotage.
The market has been in free-fall for several weeks with billions wiped off the All-share index which hit a third year-low in four days last Friday closing on 414.13 points, in contrast to a record high last November, when an extended bull run took the benchmark index to 850 points.
The index year-high is 699 points.
Earlier, while efforts were being made to start trading, one anonymous caller, thought to be a disgruntled investor, phoned a local TV station threatening to set the countryside alight if the current market slide were not reversed.
Police said they were on full alert against such action and were investigating the incident.
The fire brigade were called out to an unprecedented 517 fires in June, many of which are thought to have been started deliberately.
© 2000 Mena Report (www.menareport.com)
