RS2 share price up 5% on improved business pipeline

The share price of RS2 Software plc advanced by 5% during this morning’s session to a new 40-month high of €0.63 following last Friday’s Interim Directors’ Statement which revealed a new licence and service agreement worth €1.5 million. This is the second contract of this nature with a similar contract of €5 million concluded in September. Moreover, the Company revealed that is in advanced negotiations with respect to yet another licence agreement for an undisclosed amount. RS2 also revealed that it is close to concluding the first 3-year deal with respect to the new managed services offering. Overall, RS2’s Directors expect the results for 2012 to be better than those registered in 2011 when the company registered a pre-tax profit of €2.38 million. A total of 29,000 shares changed hands today with further offers unsatisfied at the closing price and fresh demand entering the market at €0.61.

Malta International Airport plc also closed in positive territory with a 0.6% increase to €1.78 (just €0.01 below its 2012 high) across five trades totalling 8,350 shares. This reflects the Directors’ expectations of better financial results in 2012 compared to 2011 on the back of another record year of passenger numbers.

On the other hand, Bank of Valletta plc partially recovered from an intra-day low of €2.365 to close minimally lower at the €2.398 level on volumes of 26,512 shares. Meanwhile, HSBC Bank Malta plc traded unchanged at the €2.70 level across six trades amounting to 6,514 shares.

Elsewhere in the local equity market, GO plc held on to the €1.01 level on volumes of 5,000 shares whilst MaltaPost plc traded unchanged at the €0.75 level across three trades totalling 7,371 shares.

On the bond market, minimal changes were registered in the Rizzo Farrugia MGS Index around the 999.800 points level for the fourth consecutive session. Eurozone yields were largely unchanged today trading just below the 1.35% level as the optimism on a possible agreement in the US over the necessary budget measures to avoid the fiscal are being counterbalanced by concerns over Greece and Spain.