RS2’s equity closes at new all-time high

The share price of RS2 Software plc traded 2% higher to reach a fresh all-time high of €1.04 across two deals totalling 18,700 shares. The increase in the share price materialised notwithstanding the equity started trading today without the entitlement to the dividend and the bonus shares. The net dividend of €0.025 per share will now be paid on 13 June 2013 subject to shareholders’ approval at the upcoming Annual General Meeting (AGM) scheduled to be held on 12 June. During the meeting, shareholders will also be asked to approve a 1 for 16 bonus issue. Meanwhile, the IT Company is expected to publish its Interim Directors’ Statement by next week providing the market with an update on its performance since the start of the current financial year.

The equity of MaltaPost plc reached a new 2-year high of €1.055 across three trades totalling 25,000 shares on fresh demand which emerged shortly after the publication of the interim financial statements. The half-year results published by MaltaPost covering the six months ended 31 March 2013 revealed a 30.9% increase in net profits to €0.66 million largely reflecting the continued growth in e-commerce business and the higher postal tariffs on certain services which came into effect on 1 November 2013. Looking ahead, MaltaPost is expected to register further improvements in its financials during the second half of the year following the introduction of new postal tariffs on local letter mail as from 1 April. Moreover, the postal operator is in the process of expanding its offering through enhanced e-commerce services, back office processing and insurance.

Bank of Valletta plc shares also ended this morning’s session in positive territory. The equity partly recovered from yesterday’s 6% drop and advanced by 2.4% to €2.151 on low volumes of 2,659 shares.  Various new bids entered the market at €2.10 and higher which remained unfilled today.

The only other equity in positive territory was GO plc with a 0.6% increase to the €1.58 level across seven deals totalling 21,552 shares. During the Annual General Meeting held last Tuesday, shareholders approved all the items on the agenda including the €0.10 net dividend per share which will now be paid tomorrow.

On the other hand, Malta International Airport plc failed to hold on to its new all-time high of €1.95 reached during yesterday’s session with a 1.3% drop back to the €1.925 level across 3,300 shares.

HSBC Bank Malta plc also shed 0.7% to drop back to the €2.69 level on two small deals totalling 800 shares.

Meanwhile, Island Hotels Group Holdings plc held on to the €0.60 level on volumes of 2,900 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 1,023.013 points as Eurozone yields tumbled back below the 1.25% level. The latest downturn in yields was the result of fresh speculation that the European Central Bank (ECB) will take further monetary action on the back of surveys published by the ECB which showed lower expectations of growth and inflation.