Crimsonwing edges closer to its 25-month high

Crimsonwing plc shares recovered from some of the marginal declines in recent days to move close to regaining its 25-month high of €0.425. A total of 30,000 shares were exchanged at the €0.42 level representing a 2.4% increase over yesterday’s close. Crimsonwing is expected to publish its half-year results covering the six months ended 30 September 2012 by the end of this week.

The share price of Bank of Valletta plc also inched minimally higher to €2.42 across eight trades totalling 12,970 shares. Yesterday, the Bank published the agenda for the upcoming Annual General Meeting (AGM) scheduled to be held on 19 December. Amongst the resolutions, shareholders will be asked to approve the final gross dividend of €0.13 per share and a 1 for 9 bonus share issue. Shareholders will also have the opportunity to elect 6 Directors out of the 9 nominees. In anticipation of the AGM, today shareholders should have received the 2012 Annual Report together with all the relevant documentation.

Meanwhile, HSBC Bank Malta plc held on to the €2.75 level on volumes of just over 5,000 shares. GO plc also closed unchanged today with 5,000 shares changing hands at the €1.065 level whilst Malta International Airport plc maintained the €1.80 level across 3,250 shares.

On the bond market, the Rizzo Farrugia MGS Index was in positive territory for the fifth time in six sessions with a further 0.1% rise to yet another 2-year high of 1,002.128 points as Eurozone yields continued to track backwards towards the 1.37% level. However, by this afternoon, the benchmark 10-year German Bund yield approached the 1.4% level after Italy comfortably concluded its final bond auction for the year reflecting the recent increase in demand for peripheral sovereign paper. In fact, in line with the declining yields in Eurozone peripheral countries, Italy’s 10-year yields hovered around their respective two-year lows.