RS2 Software plc gained a further five per cent today on increased volumes totalling 45,300 shares.

The equity of RS2 was the star performer this week and gained in excess of 10 per cent in reaction to the announcement of a new €16.5 million contract.

RS2 announced that it entered into a license agreement for its proprietary software BankWORKS with a global payment processing company for a total value of €12 million.

The agreement stipulates that the license granted is for a five-year term with an option to convert to a perpetual license in accordance with the terms.

Furthermore, RS2 entered into a services agreement with the licensee with an annual minimum spend by the licensee of €1.5 million for the first three years of the agreement (total value of €4.5 million).

Although RS2 was the only positive performer of the day, the five per cent rise offset the declines in three other equities helping the MSE Share Index to close marginally higher at 3,392.248 points.

FIMBank plc and GO plc both edged lower to 74c9US and €1.94 respectively on low volumes. Meanwhile, the share price of Tigne Mall plc dropped one per cent to 51c5 on high activity of 155,500 shares.

Among the large banking equities, Bank of Valletta plc and HSBC Bank Malta plc closed the day unchanged at €2.12 and €2.11 respectively.

Malta International Airport plc also maintained the €2.26 level today. The share price of the airport operator recovered most of last week’s drop and advanced by 2.7 per cent this week.

On Wednesday, the company published its May traffic results revealing a 6.4 per cent increase in passenger movements when compared to the same month last year to a record of 402,289 passengers – the first time that passenger movements exceeded 400,000 during the month of May.

During the first five months of the year, MIA registered a 9.2 per cent increase in passenger movements to 1,435,312 (2013: 1,314,635).

On the bond market, the Rizzo Farrugia MGS Index advanced to a new all-time high of 1,041.043 points as medium-term and long-term Malta Government Stock prices rose reflecting the drop in Eurozone yields to 1.38 per cent in reaction to the announcement by the European Central Bank yesterday afternoon.

At its monetary policy meeting, the ECB announced a reduction in the base interest rate from 0.25 per cent to 0.15 per cent and the deposit facility to -0.1 per cent in a bid to spur an economic recovery and head off deflation.

The ECB also announced other stimulus measures in order to get funds flowing to businesses and households.

Next Monday marks the closure of tenders for the two new Malta Government Stocks on offer.

www.rizzofarrugia.com

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