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  • Declines in the share prices of the two large banking equities force MSE Share Index to drop by 0.5% to 3,163.039 points. Meanwhile, share price of RS2 Software closes at a new 45-month high with GO at a new 5-month high of €1.12. Download a copy of the Equity Market Summary .
  • On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 1,003.566 points as Eurozone yields slipped further below the 1.28% level as investors intensified their demand for safe haven assets in view of the political crisis in Italy. The  borrowing costs of Italy soared this morning, with the 10-year yield reaching a 3-week high of 4.9%, after Prime Minister Mario Monti announced that he will be resigning soon after the 2013 budget is approved given that his technocratic government has lost the support of Silvio Berlusconi’s party – the largest party in Italy’s parliament. The crisis in Italy also impacted Spain’s borrowing costs which also touched a 3-week high of 5.678%.
  • RS2 Software plc advanced by a further 2.9% to close at a new 45-month high of €0.72 across a single trade of 25,000 shares. The IT equity ranks amongst the top performers of this year with a 28% jump on the back of two licence and service agreements valued at an aggregate €6.5 million. Moreover, the Company is in advanced negotiations with respect to a third licence contract as well as the first contract in relation to the recently launched managed services. As a result, the Directors expect the 2012 financial performance to better than of 2011 when the company generated pre-tax profits of €2.38 million.
  • GO plc share price at a new 5-month high of €1.12 on low volumes of 3,000 shares with further offers on the market at this level.
  • BOV’s equity shed 1.4% to €2.371 across six trades totalling 22,999 shares. The Bank will be holding its Annual General Meeting on Wednesday 19 December.
  • Increased volumes in Lombard Bank Malta plc. The equity held on to the €1.80 level across three trades totalling 34,160 shares.
  • Crimsonwing’s equity held on to its 28-month high of €0.46 as a further 9,250 shares changed hands at this level. Recently, Crimsonwing reported a record pre-tax profit of €0.55 million with respect to the six months ended 30 September 2012.

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