The consistent rally in the equity of Crimsonwing plc came to a halt during this morning’s trading session as its share price eased lower for the first time in a month.
Crimsonwing’s shares retreated by 4.7 per cent to 40c5 across 69,000 shares ahead of the group’s interim results which should be published by the end of this week.
In view of the restructuring undertaken in the previous financial year and in line with recent comments by the CEO David Walsh, Crimsonwing is expected to report improved financial results for the six months ended September 30.
Similarly, Simons Farsons Cisk plc also gave back some of its recent gains as its share price eased from its all-time high of €2.43 back to the €2.40 level across two trades totalling 2,425 shares.
In the coming weeks, the Farsons Group is expected to publish its interim directors’ statement to update the market on its performance in the months following the end of its half-year on July 31. During the first six months of the current financial year, the Farsons Group registered a record net profit of €3.78 million mainly reflecting the growth in its own brands, Cisk and Kinnie.
Despite the declines in the share prices of Farsons and Crimsonwing, the MSE Share Index climbed higher for the fifth consecutive session with a further 0.5 per cent increase to 3,194.37 points as these declines were more than offset by the increases in the share prices of the other active equities.
International Hotel Investments plc continued to recoup from this month’s earlier declines as new bids lifted the equity a further 2.4 per cent higher to regain the 87c level across 16,729 shares.
Bank of Valletta plc also ended up in positive territory today as the equity advanced for the fourth consecutive session with a further 0.4 per cent increase to €2.42 on low volumes of 2,500 shares.
Also in the banking sector, Lombard Bank Malta plc edged 1.1 per cent higher to regain the €1.80 level across five trades totalling 6,470 shares.
Likewise, the share price of RS2 Software plc gained 0.8 per cent to the 65c5 level across two trades totalling 35,741 shares. Similarly, the equity of Plaza Centres plc jumped 3.9 per cent higher to the 54c level on volumes of 32,500 shares.
On the bond market, the Rizzo Farrugia MGS Index eased back below the 1,000-points level as Eurozone yields this morning surpassed the 1.4 per cent level following last nights’ agreement between the Eurozone and the International Monetary Fund (IMF) which will grant Greece access to the next tranche of aid.
However, yields in Germany have been very volatile as the IMF declared that it will only release its share of aid after it is satisfied that a bond buy back of Greek debt has been completed in the coming weeks. No details have been published in this respect thus creating uncertainty on the mechanics of how Greece will obtain the necessary financial aid.
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