During the month of November the MSE Share Index slipped 2.1 per cent to 3,197.387 in contrast to the gains registered in the previous two months.
The dip in November was due to the declines registered in the three largest equities by market capitalisation.
HSBC Bank Malta plc eased a marginal 0.4 per cent to €2.75 whilst Bank of Valletta plc registered a drop of almost three per cent back to the €2.41,5 level largely due to the fact that the equity turned ex-dividend.
This week BOV mailed out the 2012 annual report to all shareholders together with all the relevant documentation ahead of the annual general meeting scheduled to be held on December 19.
During the AGM, shareholders will be asked to approve the final gross dividend of 13c per share and a one for nine bonus share issue amongst other resolutions. Shareholders will also have the opportunity to elect six directors out of the nine nominees.
The shares of International Hotel Investments plc also declined during the month of November with a 7.4 per cent plunge back to the 88c level in spite of a positive interim directors’ statement published at the beginning of the month under review.
IHI’s directors noted that the improving performances of its operating properties during the first six months of the year was extended throughout the third quarter.
As such, the directors expect an improvement in the EBITDA figure of 2012 over that of 2011 which amounted to €22.38 million.
On the positive side, for the second consecutive month, Crimsonwing plc and RS2 Software plc top the rankings.
Crimsonwing’s shares advanced by 20 per cent to 42c on the back of the four new international contracts and the CEO’s expectations of improved results which should lead to a pre-tax profit figure of €2 million for the financial year ending March 31.
Moreover, the Crimsonwing Group yesterday revealed its financial figures for the six months ended September 30 with a record revenue figure of €8.68 million which led to a pre-tax profit of €550,000 compared to the marginal profit registered in the previous comparable period. Crimsonwing traded again at the 42c level today.
The share price of RS2 Software also rallied by 15 per cent to a new 43-month high of 69c following a positive interim directors’ statement which revealed a second licence and service agreement worth €1.5 million.
This follows a similar agreement signed in late September worth €5 million. Moreover, the directors expect the results of 2012 to be higher than of 2011, when a net profit of €2.4 million was reported, on the back of these new contracts and a further two which are expected to be concluded by year-end.
On the bond market, the Rizzo Farrugia MGS Index surged 0.7 per cent higher to reach a new two-year high of 1,002.725 as the benchmark 10-year German Bund yield slid from around the 1.5 per cent level to just above the 1.35 per cent level.
The decline in yields reflects the deteriorating global economic outlook as well as concerns over the prevailing sovereign debt crisis particularly in Greece and Spain.
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