RS2 and GO reach new highs

The share price of RS2 Software plc climbed a further 3.3% higher during this morning’s session to yet another all-time high of €0.97 on high activity totalling more than 104,500 shares. Today’s upturn reflects this morning’s announcement by the company in which it confirmed that its fully-owned subsidiary, RS2 Smart Processing Ltd, concluded its first managed services contract with an initial 3-year term thereby diversifying the Group’s revenue stream with regular monthly income. Moreover, the announcement also confirmed the third licence agreement for 2012 worth USD1.8 million.

GO plc’s equity also continued to trend higher with a further 0.6% increase to a fresh 2-year high of €1.609 on the last day for investors to gain entitlement to the final net dividend of €0.10 per share. A total of 118,750 shares changed hands today with the equity turning ex-dividend as from tomorrow.

The share price of Bank of Valletta plc also ended today’s session in positive territory with a 0.9% increase to regain the €2.27 level on volumes totalling 35,283 shares. Last week marked the end of the Group’s interim period with the results generally published by the end of April.

On the other hand, Lombard Bank Malta plc gave back some of its recent gains as the Bank’s equity retreated by 1% to the €1.98 level on a single trade of 2,000 shares.

Similarly, MIDI plc eased minimally lower to €0.314 on volumes of 15,800 shares. The company is expected to publish its full-year results on 29 April.

Meanwhile, the other three active equities ended the session unchanged. Malta International Airport plc held on to the €1.86 level across three trades totalling 5,630 shares and Plaza Centres plc maintained the €0.55 level across 22,000 shares. Both equities are still trading with the entitlement to their respective final dividends.

6pm Holdings plc also closed unchanged at the GBP0.45 on volumes of 10,600 shares as investors await the publication of the 2012 financial results which should show an improvement over the 2011 figures. Moreover, investors are anticipating the possibility of a reinstatement of the dividend.

On the bond market, the Rizzo Farrugia MGS Index edged minimally higher to 1,016.911 points despite a marginal increase in the benchmark Eurozone yields to regain the 1.30% level. The mild recovery in yields reflects the renewed appetite for risk among investors as well as some profit taking on ‘safe-haven’ bonds which had touched new highs in recent days.

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