RS2 Software closes at a fresh high

During this morning’s trading session, the share price of RS2 Software plc advanced by a further 1.6% closing at a fresh all-time high of €1.30 on total activity amounting to 30,900 shares. This level had originally been reached during the session of 13 June but the equity had failed to close at this price on some profit taking. The share price of RS2 ranks among the best performing equities of 2013 with a year-to-date rally of 86.7% on the back of improved financial results for 2012 as well as a promising outlook. The business of RS2 is expected to grow following the launch of managed services. Furthermore, RS2 recently revealed the interest of a potential new strategic investor willing to acquire not less than 10% of the outstanding shares of the Group. During the Annual General Meeting held on 12 June, it was further revealed that the new investor is a UK bank with a global reach which intends to help RS2 grow its business internationally.

Meanwhile, all other active equities ended the session unchanged. In the financial sector, Bank of Valletta plc continued to trade within a tight range of €2.26 to €2.275 with the share price closing at the €2.27 level across eight trades totalling 24,514 shares. Lower volumes were registered in HSBC Bank Malta plc with just over 2,000 shares changed hands with the share price failing to hold on to an intra-day high of €2.72 to end the session at the €2.70 level.

Likewise, no changes were registered in Middlesea Insurance plc (2,908 shares at €0.85) and FIMBank plc which maintained the US1.00 level on volumes of 10,000 shares.

A small deal of 500 GO plc shares was executed at the €1.529 level, unchanged from the previous close.

On the bond market, the Rizzo Farrugia MGS Index slid marginally lower to 1,021.208 points in line with the uptick in the benchmark 10-year Eurozone yields to the 1.68% level. However, by this afternoon, yields slipped back to the 1.65% level after the European Central Bank (ECB) announced that it will be maintaining its interest rate on hold at the historically low level of 0.5%.