The share price of RS2 Software plc extended its recent positive trend with the third increase during the last four sessions of this week.
The IT equity gained a further 1.4 per cent to yet another all-time high of €1.13 across two trades totalling 26,600 shares.
The licence sales concluded last year and the commencement of the first managed services contract earlier this year coupled with the prospects of other potential licence sales as well as the interest by a new investor to acquire at least 10 per cent of the company helped the equity climb by 62.4 per cent since the start of 2013.
Shallow trading activity was evident elsewhere in the local market with Bank of Valletta plc rebounding by 1.1 per cent to regain the €2.23,5 level on volumes of almost 6,300 shares.
Meanwhile, HSBC Bank Malta plc eased 0.8 per cent to the €2.63 level across two deals totalling 4,900 shares. This afternoon, the Bank announced that it will publish its half-year results on August 5.
In the hotel sector, International Hotel Investments plc maintained the 87c5 level on a small deal of 500 shares.
IHI held its annual general meeting this morning and the Chairman reiterated the commitment to dispose of the London apartments and distribute a cash dividend to shareholders. Likewise, only 1,000 Island Hotels Group Holdings plc shares transacted today at the 59c level representing a 1.5 per cent drop from the previous close.
On the bond market, the Rizzo Farrugia MGS Index moved marginally higher for the second successive session to just below 1,021 points in line with this morning’s dip in Eurozone yields.
The benchmark 10-year German Bund yield retreated to the 1.35 per cent level following a surprise drop in Chinese factory activity and the revelation of the US Federal Reserve’s plans to start curbing its asset purchase programme in the coming months.
These two events triggered fresh concerns on global growth sending international equity markets into a tailspin. Nonetheless, the 10-year Bund yield has regained the 1.385 per cent level by this afternoon after the German Chamber of Commerce reduced its growth forecast for 2013.
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