Crimsonwing and RS2 set new highs

Further demand for the equities of Crimsonwing plc and RS2 Software plc helped both share prices to reach new highs during this morning’s session. Crimsonwing’s equity advanced by a further 2.4% to close at the €0.845 level across three deals totalling 26,000 shares. During last week’s Annual General Meeting, CEO Mr David Walsh explained that following the improved financial performance during the year ended 31 March 2013, the outlook remains positive for the current financial especially after the signing of three new contracts including an agreement for a global e-commerce roll-out for a multi-national company. The September 2013 interim results are expected to be announced in the coming weeks.

The share price of RS2 gained 0.5% to a new all-time high of €2.05 across seven deals totalling 10,112 shares. RS2 (which now ranks as the seventh largest company on the Malta Stock Exchange in terms of market capitalisation) experienced an increase of 194.5% in its share price since the beginning of the year mainly due to the GBP8.5 million licence acquired by Barclays Bank plc and its subsequent acquisition of a 10% shareholding in the Company with the intent of raising its stake to 20%.

The share price of Bank of Valletta plc also performed positively with the equity advancing for the fourth time in the last five sessions ahead of the full-year results publication on 31 October. BOV’s share price moved 0.8% higher to close at its 2013 high of €2.50 across twelve deals totalling 30,342 shares.

Likewise, Lombard Bank Malta plc saw its share price rise by 2.2% to the €1.90 level on volumes of just over 12,000 shares.

Similarly, MIDI plc edged 4.2% higher to recapture the €0.25 level on a small trade of 2,000 shares. Media reports have revealed that the Company has experienced a strong interest in the 39 apartments situated in the new Q1 block with almost three quarters of the apartments already reserved.

Medserv plc gained 1.5% to the €3.30 level on a single trade of 1,450 shares.

On the other hand, HSBC Bank Malta plc eased minimally lower to €2.62 on low volumes of 6,600 shares. Shallow volumes were also evident in GO plc as its share price retreated by 2% to €1.45 level on a single trade of 2,177 shares. A single deal was also executed in Simonds Farsons Cisk plc with 10,000 shares changing hands at the €2.799 level representing a minimal drop from the previous close.

Likewise, the shares of Tigné Mall plc eased by 0.4% to the €0.51 level on low volumes of 13,900 shares.

The only two other active equities ended this morning’s session unchanged. Malita Investments plc maintained the €0.52 level across five trades totalling 114,200 shares. A further 5,500 Malta International Airport plc shares changed hands at the €2.00 level.

On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 1,019.136 points as Eurozone yields remained close to the 1.84% level.

This morning, International Hotel Investments plc published the Prospectus in connection with the new €10 million 5.8% bond issue. Gasan Finance Company plc is set to publish its Prospectus later this week in relation to its €25 million 4.9% Bond issue.