GO’s share price jumps to new 2-year high

New bids for GO plc emerged during this morning’s session lifting its share price up 7.1% to a fresh 2-year high of €1.65 across fourteen trades totalling 38,796 shares.

The equity of Bank of Valletta plc also advanced with a 0.9% increase to its 2013 high of €2.30 on volumes of 19,190 shares. Similarly, new bids helped the share price of Crimsonwing plc edge 3.3% higher to a new all-time closing high of €0.62 across 38,796 shares. The company is scheduled to publish its full-year results tomorrow. As noted in the trading update published on 23 May, the Group is expected to reveal a 15% increase in revenue to just under €18 million with a projected rise of a further 11% to above €20 million for the current financial year ending 31 March 2014.

These three positive performing equities helped the MSE Share Index gain 0.6% to 3,440.367 points – less than 1 point below its 2013 high reached on 19 June 2013.

On the other hand, Lombard Bank Malta plc temporarily touched a new 2013 high of €1.96 before easing back to end this morning’s session unchanged at the €1.85 level on volumes of 8,131 shares.

Likewise, no change was registered in the share price of Malta International Airport plc with 1,000 shares changing hands at the €2.04 level.

On the bond market, the Rizzo Farrugia MGS Index dipped 0.1% to 1,027.341 points as the benchmark 10-year Eurozone yield surged above the 1.6% level given the unexpected return to growth of eurozone’s private industry. Data published this morning revealed that manufacturing activity in the Eurozone grew for the first time in more than one and a half years thereby relieving some of the pressure off the European Central Bank to loosen further its monetary policy.