The local equity market kicked off trading in 2013 on a positive note as the MSE Share Index climbed 0.8 per cent to a new two-month high of 3,236.538 points.

This morning’s uplift was mainly due to the increases registered in the share prices of the two large banks.

HSBC Bank Malta plc’s equity advanced by 1.8 per cent to reach the €2.74,9 level on volumes of 5,265 shares while Bank of Valletta plc’s share price rose 0.6 per cent to regain the €2.43 level on higher volumes amounting to almost 36,000 shares ahead of the upcoming bonus share issue.

The two top performing IT equities also extended last year’s gains during the first trading session of 2013.

Following the rally in 2012, the share price of Crimsonwing plc climbed by a further 10.2 per cent during this morning’s session to surpass its original IPO level and close at a new 54-month high of 54c on volumes of 35,000 shares.

RS2 Software plc added a further 1.4 per cent to last year’s 31.6 per cent jump as the IT equity reached a fresh four-year high of 75c across three trades totalling just over 14,550 shares. Lowest offers are now placed at the 79c level.

Meanwhile, no changes were recorded in the other active equities. Most notably, GO plc shares failed to hold on to its 2012 high of €1.20 as the telecoms equity ended the session unchanged at the €1.19 level across 6,670 shares.

Similarly, MaltaPost plc maintained the 85c level across 17,679 shares ahead of the annual general meeting scheduled to be held next Thursday.

During the meeting, shareholders will be asked to approve a number of resolutions including the final net dividend of 4c and the option to receive the dividend in new shares at the attribution price of 70c.

On the bond market, the Rizzo Farrugia MGS Index eased 0.1 per cent lower to 1,004.865 points from its 25-month high reached at the close of last year.

Eurozone yields eased marginally lower to the 1.44 per cent level today following the strong upturn registered yesterday.

German yields retreated as Republican members of the US Congress are stating that they will use the upcoming debt ceiling discussions to force the US government to reduce spending levels (and hence curtail the federal deficit) – something which according to Republicans was not properly addressed in the budget deal reached in the last moments of 2012.

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