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GO, Farsons, Crimsonwing hit new highs

During the last trading session of the first week of December, new bids entered the market helping the share price of Simonds Farsons Cisk plc to rise by 4.2 per cent to reach a new all-time high of €2.50 across three trades totalling just under 18,000 shares.

The equity of Farsons rallied by 38.9 per cent since the start of 2012 fuelled by record results for the financial year ended January 31 with a pre-tax profit of over €5 million as well as the figures for the subsequent six months to July 31 with the highest pre-tax profit ever registered in the first half of just under €4 million.

The improved profitability mainly reflects the growth achieved in the group’s own brands Cisk and Kinnie particularly through the export market.

Further demand was also evident for Crimsonwing plc shares with a 2.2 per cent rise to yet another 28-month high of 46c on sustained volumes of 40,000 shares.

The IT equity had a remarkable run this year and currently ranks as the best local performing equity for 2012 with a year-to-date jump of 84 per cent on the back of a substantially improved business pipeline. Crimsonwing reported a record pre-tax profit of €550,000 with respect to the six months ended September 30.

The share price of GO plc also closed at a new five-month high as it climbed 0.9 per cent to reach the €1.11 level across two trades totalling 4,000 shares.

Bank of Valletta plc recovered from an intra-day low of €2.39 to close minimally higher at the €2.40,5 level on low volumes of 2,900 shares.

On the bond market, the Rizzo Farrugia MGS Index eased 0.1 per cent lower to 1,003.225 points despite an extended drop in Eurozone yields to a new four-month low of 1.29 per cent.

Eurozone yields retreated this morning after yesterday’s press conference by the president of the European Central Bank Mario Draghi who explained that economic weakness across the Eurozone will persist through next year.

www.rizzofarrugia.com

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