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  • The MSE Share Index jumped 1.1% this morning to 3,096.133 points mainly due to the increases in the share prices of IHI and GO. Positive movements also in Grand Harbour Marina, Crimsonwing and RS2 Software. On the other hand, HSBC and Medserv traded lower whilst MIDI and Malita closed unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index drifted 0.1% lower to just above the 999-points level as benchmark Eurozone yields reached the 1.43% level after the three international lenders to Greece (the Eurozone, European Central Bank and International Monetary Fund) failed to reach an agreement on a debt-reduction package. As a result, Greece still had no access to the next tranche of aid.
  • Crimsonwing shares climbed by 5% to yet another 25-month high of €0.42 on a single deal of 25,000 shares. Recently, the CEO of Crimsonwing stated that the Group is expected to report improved performances from the current financial year and is on the way to reach its target of a pre-tax profit figure of €2 million by the financial year ending 31 March 2014.
  • Similarly, the share price of RS2 Software edged 1.6% higher to a fresh 40-month high of €0.64 across three trades totalling 35,500 shares. In its latest communication to the market, RS2 revealed a second licence and service agreement worth €1.5 million following the similar €5 million contract announced in September. Moreover, the Company is in advanced negotiations with respect to another licence and service agreement as well as the first deal in connection with its new managed services. As such, the Directors of RS2 expect the results of 2012 to be better than those of 2011.
  • A single trade of 5,000 Grand Harbour Marina shares lifted the equity from its 67-month low of €1.65 to the €1.75 level. This follows last Monday’s Interim Directors’ Statement which revealed that the company continued to generate growth in its recurring revenue from berthing and rental income at both its marinas in Malta and Turkey. Furthermore, GHM also disclosed that it entered into a Memorandum of Understanding for the sale of a super-yacht berth valued at €3.1 million which is expected to be concluded by year-end and also includes an option on the purchase of a further berth for €1.8 million.
  • The share price of IHI jumped 6.5% to regain the €0.80 level on volumes of 5,527 shares.
  • GO also traded 4% higher during this morning’s session to €1.05 across four trades totalling 5,000 shares.
  • On the other hand, HSBC eased 0.4% lower to €2.65 across three trades totalling 2,600 shares.
  • Medserv also shed 3.5% to €3.85 across one trade of 4,050 shares possibly due to the recently issued Interim Statement which revealed that the Group’s performance continued to be depressed as projects which were expected to start during the third quarter were postponed to the last three months of 2012. In the meantime, the Group provided substantial maintenance work to offshore platforms as well as other support to offshore activities.
  • Higher volumes of 178,500 MIDI shares traded today as the equity remained at its all-time low of €0.25 with no bids in sight and lowest offers placed at the €0.285 level.
  • Malita Investments also closed unchanged at its IPO price of €0.50 across three trades totalling 26,000 shares.