High volumes in Crimsonwing sustained

High volumes were once again registered in the equity of Crimsonwing plc with a further 113,000 shares changing hands during this morning’s session. As a result, almost 2% of the issued shares of Crimsonwing have been traded since the publication of its March 2013 full-year results on 25 July. Today, the share price of Crimsonwing advanced by 3% to a new all-time high of €0.721 with further bids in the market at €0.72 and lowest offers now placed at the €0.745 level.

Similarly, the share price of RS2 Software plc climbed a further 1.5% today to regain its all-time high of €1.32 across seven deals totalling 53,628 shares. RS2 has yet to announce the date of the publication of its 2013 interim financial statements.

Positive movements were also recorded in other equities. The share price of Simonds Farsons Cisk plc gained 1.8% to the €2.80 level on a single deal of 4,700 shares. The equity of Malita Investments plc also registered a 2% increase to regain the €0.52 level across 16,000 shares. Malita is due to publish its 2013 half year results on Monday 12 August.

On the other hand, the share price of HSBC Bank Malta plc retreated by 1.1% to the €2.70 level across two trades totalling 11,800 shares. Yesterday HSBC reported stable pre-tax profits of €53 million and declared an unchanged interim dividend of 10c gross per share to shareholders as at close of trading next Monday 12 August.

Similarly, Malta International Airport plc failed to hold on to an intra-day high of €2.055 as a last minute trade forced the equity to end the session 2% lower at the €2.00 level. A total of 15,500 shares changed hands today ahead of the airport operator’s interim results publication tomorrow. Meanwhile yesterday MIA reported a 5.8% increase in passengers during July to a new record high.

Meanwhile, Bank of Valletta plc held on to the €2.32 level on volumes of 15,230 shares and FIMBank plc maintained the US$0.99 level on a deal of just 3,000 shares.

On the bond market, the Rizzo Farrugia MGS Index slid by 0.2% to 1,025.226 points as the benchmark 10-year Eurozone yield regained the 1.7% level with ‘safe-haven’ assets out of favour. Investors increased their demand for riskier sovereign paper after Italy announced a lower than expected decline in its second quarter gross domestic product (GDP) figures as well as following the successful sale of €812.5 million of 6-month bills by Greece.