RS2 shares at 42-month high on increasing activity

The share price of RS2 Software plc ended in positive territory for the third time this week as further demand lifted the IT equity a further 1.6% higher to a new 42-month high of €0.65 on high volumes of 160,500 shares. The shares of RS2 have surged 8.3% since last Friday’s Interim Statement publication revealing a €1.5 million licence and service agreement following a similar contract concluded in September for €5 million. Moreover, the Directors revealed that the Company is in advanced negotiations with respect to a third licence contract this year as well as the first agreement in connection with the newly launched managed services which should start generating a recurring revenue stream. RS2’s equity now ranks among the top performers of this year with a 15.5% rise since the beginning of 2012.

The share price of Grand Harbour Marina plc (GHM) also extended its recent gains on the back of a positive interim statement which revealed a memorandum of understanding with respect to a super-yacht berth sale for €3.1 million. The acquirer also has the option to purchase another berth worth €1.8 million. In the meantime, the Group continued to register increases in its berthing revenue at both its marinas in Malta and Turkey. The equity of GHM climbed 3.4% to €1.81 on a single deal of 5,000 shares.

The shares of Bank of Valletta plc also traded higher today closing this morning’s session at the €2.385 level (+0.2%) after retreating from an intra-day high of €2.398 across ten trades totalling 12,248 shares.

Meanwhile, the share price of Malta International Airport plc eased 0.6% back to the €1.77 level on low volumes of 2,120 shares.

On the other hand, GO plc and Plaza Centres plc traded unchanged. The telecoms quad-play operator held on to the €1.05 level across 5,000 shares whilst two deals for 6,000 Plaza Centres plc shares changed hands at the €0.52 level.

On the bond market, the Rizzo Farrugia MGS Index closed relatively unchanged at 999.166 points as benchmark Eurozone yields continued to trade around the 1.45% level as Europe kicks-off a summit during which the  7-year budget (2014-2020) will be discussed. Various nations, including Germany, are calling for cuts in spending whilst countries like France are resisting such propositions. Although the summit is expected to continue throughout the weekend, no agreement is expected to be concluded.