Positive day for local equities

Most of the equities active during this morning’s session closed higher lifting the MSE Share Index up 0.7% to a fresh 2-year high of 3,411.427 points.

The equity of RS2 Software plc was once again the star performer with a further 6.3% jump to reach the €1.275 level across six trades totalling 52,000 shares. On Wednesday, RS2 held its Annual General Meeting during which it was revealed that a large bank based in the UK is interested in acquiring not less than 10% of the Company’s outstanding shares. Coupled with the growing business pipeline for the Group, the equity has surged by 83.1% since the start of 2013.

In the banking sector, Bank of Valletta plc edged 0.4% higher to regain the €2.28 level on almost 16,000 shares. Similarly, HSBC Bank Malta plc moved 0.7% higher to close the session at the €2.73 level on low volumes of 1,270 shares and Lombard Bank Malta plc’s share price edged 2.9% higher to the €1.75 level across two deals totalling 5,300 shares.

Malta International Airport plc shares also closed in positive territory with a 1.2% uplift to recapture the €2.04 level across 3,400 shares. The only other positive performing equity today was Simonds Farsons Cisk plc with a 3.8% jump to a new all-time high of €2.75 on a single deal of just 485 shares. Farsons will be holding its AGM next week.

Meanwhile, Crimsonwing plc and Plaza Centres plc traded unchanged on single trades at €0.58 and €0.57 respectively.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to a fresh 4-week high of 1,021.148 points as Eurozone yields continued to retreat below the 1.55% level. The benchmark 10-year German Bund yield reversed this week’s earlier increases reflecting investor preferences for ‘safe-haven’ assets over the riskier peripheral bonds in view of the possible reduction in liquidity as central banks may start to reduce monetary stimulus.