The equity of RS2 Software plc extended its recent gains with a further 0.5 per cent increase during this morning’s session to yet another all-time high of €1.90 across five deals totalling 9,475 shares.
The IT equity has so far rallied by 173 per cent this year largely due to the £8.5 million licence deal concluded with Barclays Bank plc and the latter’s intention to acquire a 20 per cent shareholding in RS2.
Crimsonwing plc also closed at its all-time high of 75c on a small deal of 550 shares.
This IT equity climbed by 53.1 per cent since the start of the year after the group returned to a profitable position during the financial year ended March 31.
Crimsonwing expects further improvements during the current financial year as already indicated by the 16 per cent growth in revenues to €5.02 million and 44 per cent rise in earnings before interest, tax, depreciation and amortisation (EBITDA) to €0.57 million during the three months ended June 30 (representing the first quarter of the group’s financial year).
The share price of Island Hotels Group Holdings plc advanced for the fourth consecutive session with a further 2.7 per cent increase to yet another 29-month high of 96c5 on a single trade of 5,000 shares.
The equity ended the week with a 14.2 per cent jump despite Wednesday’s announcement which revealed that no significant improvement is expected in the group’s operational performance for the financial year ending October 31.
The announcement also reiterated that the group continues to seek a fresh equity injection so as to finance new projects, namely the development of the Oasis project (ex-Hal Ferh).
In the banking sector, Bank of Valletta plc edged 0.4 per cent higher to €2.35 on low volumes of 3,145 shares. Similarly, FIMBank plc edged 1.1 per cent higher to US95c5 across three deals totalling 14,500 shares.
The only other positive performing equity was MIDI plc as a single deal of 500 shares lifted the equity 6.4 per cent higher to the 25c level.
On the other hand, International Hotel Investments plc slipped by 3.4 per cent to 85c on a single trade of 1,200 shares as investors are still waiting developments in connection with the sale of the 12 luxury apartments in London.
Meanwhile, the other four active equities ended the session unchanged. HSBC Bank Malta plc recovered from an intra-day low of €2.49 to end the session unchanged at the €2.50 level across seven trades totalling 23,800 shares.
Similarly, GO plc held on to the €1.51 level after recovering from an intra-day low of €1.50 on volumes of 9,400 shares.
Lombard Bank Malta plc traded again at €1.90 on low volumes of 500 shares with just over 29,000 Malta International Airport plc shares changing hands at the €1.88 level.
Further volatility was registered on the bond market, as the Rizzo Farrugia MGS Index slipped 0.1 per cent lower to 1,019.932 points as Eurozone yields recaptured the two per cent level reflecting the trend in US Treasury yields last night.
Yields in North America surged on widespread speculation that US President Barack Obama is expected to appoint Lawrence Summers to replace Ben Bernanke at the helm of the US Federal Reserve in January.
As such, markets are now speculating that Mr Summers will seek an accelerated tapering of the US Central Bank’s asset purchase programme given his more hawkish views.
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