The MSE Share Index inched minimally lower to a fresh 15-week low of 3,376.421 points today mainly due to the 1.1% decline in the share price of RS2 Software plc to €1.88 on low volumes of 2,000 shares.
The company is scheduled to hold an Extraordinary General Meeting (EGM) on October 2 seeking a number of changes to its Memorandum and Articles of Association. These changes are being made in connection with the share purchase agreement between the Company’s largest shareholder, ITM Holdings Ltd, and Barclays Bank plc. The latter is initially acquiring a 10% stake and will subsequently be seeking to acquire a further 10%. Furthermore, Barclays has also concluded a GBP8.5 million licence agreement with RS2.
On the other hand, HSBC Bank Malta plc inched minimally higher to close at €2.501 across ten deals totalling 25,540 shares.
Meanwhile, the equity of Bank of Valletta plc ended the session unchanged at the €2.35 level on low volumes of 7,711 shares. This month marks the end of the Bank’s financial year with the preliminary results generally published by the end of October.
Malta International Airport plc also closed unchanged as a single deal of 6,000 shares was executed at the €1.88 level.
On the bond market, as the Rizzo Farrugia MGS Index moved back into positive territory with a 0.1% increase to 1,021.129 points as Eurozone yields slid back to the 1.93% level. Today’s decline in benchmark yields is being attributed to the decision by Lawrence Summers to withdraw from the running to become the next Chairman of the US Federal Reserve. Investors were comforted that the US central bank will now take a more gradual approach in tapering its asset purchase programme.
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