This morning’s trading session on the Stock Exchange was rather quiet as trading activity dropped to a four-month low with only €58,839 worth of shares changing hands today.
The share index moved 0.3 per cent higher to 3,296.575 points largely due to the rebound in the share price of Bank of Valletta. The bank’s equity reversed yesterday’s 1.8 per cent drop with an equivalent 4c uplift during this morning’s session to recapture the €2.24 level on low volumes of 11,475 shares.
The only other positive performing equity was Simonds Farsons Cisk which touched a new all-time high of €3.05 before easing back to its previous record high of €3.02 representing a 0.3 per cent increase over the previous closing price.
On the other hand, the equity of HSBC eased 0.5 per cent lower to €1.94 on a single trade of 2,500 shares.
Likewise, Malta International Airport shares trended in negative territory after failing to hold on to an intra-day high of €2.36. MIA closed at the €2.33 level representing a 0.9 per cent drop from the previous closing price.
Shortly after the close of today’s session, RS2 Software issued its interim directors’ statement to update the market on its performance since June 30.
The directors explained that the group continued to generate a strong operating and financial performance, for both the software licensing and managed services businesses.
In relation to the software licensing business, the group increased consultancy and implementation services given the additional services requested by existing clients and is in the process of negotiating a new licence deal with a client in Europe, which is expected to be concluded during the first quarter of 2015
On the managed services/processing side, during the period under review, the group concluded negotiations on one of the letters of intent mentioned in the interim directors’ statement published on May 13, which was converted into an agreement between RS2 Smart Processing and Optimal Payments.
In the meantime, RS2 revealed that negotiations on the second letter of intent are ongoing and are at an advanced stage.
Furthermore, the group is negotiating new letters of intent to provide services to clients within Europe and North America reflecting the increasing demand for RS2’s managed services.
RS2’s directors revealed that the group continues to hold a very strong pipeline of potential clients and the board remains highly committed in delivering the best results to its shareholders whilst maintaining a positive outlook for the current financial year.
On the bond market, the Rizzo Farrugia MGS Index eased a further 0.1 per cent lower to 1,091.388 points as Eurozone yields regained the 0.85 per cent level on renewed hope of additional stimulus from the European Central Bank (ECB) which could be the turning point for the region.
The new 5.3 per cent United Finance 2023 bonds commenced trading today and closed at 102 per cent representing a 200 basis point premium compared to the recent offer price.