The share price of RS2 Software initially dropped to an intra-day low of €2.90 this morning (2.5 per cent lower than the previous closing price) on volumes of 6,830 shares.

However, a deal of 666 shares was later executed at a new all-time high of €2.98 representing a 0.2 per cent increase over the previous closing price.

Similarly, the equity of Island Hotels Group Holdings jumped three per cent higher to reach a five-year high of €1.02 level albeit on low volumes of 2,000 shares.

Meanwhile, the share price of International Hotel Investments, in spite of the attack on the hotel in Tripoli, held on to the 62c level also on low volumes of 7,400 shares.

The IHI Group recently revealed its intentions to acquire all the shares of Island Hotels Group for €1 in cash and 24c7 shares in IHI per IHG share.

The offer is still subject to a number of conditions including a due diligence exercise by IHI on IHG.

In this respect, IHG is calling an extraordinary general meting on February 20 during which it will request shareholders to approve a resolution empowering the directors to provide all the required information to IHI.

The only other positive performing equity was Bank of Valletta with a 0.3 per cent increase to regain the €2.07,1 level across 14 deals totalling 21,656 shares.

On the other hand, the share price of FIMBank shed a further 3.5 per cent to a fresh all-time low of 55cUS across two deals totalling 21,000 shares possibly reflecting the recent downgrade by Fitch Ratings.

The international rating agency downgraded FIMBank’s rating by one notch to ‘BB-’ citing the bank’s high risk appetite, significant deterioration of asset quality, as well as unstable and weak earnings. The trade finance specialist is expected to publish its 2014 full-year results on March 11.

Meanwhile, HSBC held on to the €2.02 level across six trades totalling 5,970 shares. The bank is scheduled to publish its 2014 full-year results on February 23.

GO also ended this morning’s session unchanged at the €2.60 level on shallow volumes of 2,820 shares. Likewise, MIDI maintained the 23c level on a single trade of 6,000 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.2 per cent higher to yet another all-time high of 1,126.918 points as benchmark 10-year Eurozone yields trended lower and tested new lows of 0.33 per cent in view of the uncertainty over Greek debt following the victory of an anti-bailout party in the country’s recent general election and the divergent fortunes of the US and Eurozone economies (as highlighted by yesterday’s hawkish statement of the US Federal Reserve).

www.rizzofarrugia.com

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