Daily Market Highlights (25.05.12)

  • The MSE Share Index edged 0.14% higher to close at 2,985.023 points as the strong jump in the share price of Crimsonwing coupled with minor gains in the equities of RS2 Software and Simonds Farsons Cisk offset the declines in HSBC and Lombard. Download a copy of the Equity Market Summary.
  • On the local bond market the Rizzo Farrugia MGS Index edged marginally lower to 988.631 points in line with the marginal recovery in the Eurozone 10-year yields from yesterday’s all-time low of 1.35%.
  • Crimsonwing’s share price rallied by 87.5% to a 5-month high of €0.30 on renewed demand following yesterday’s announcement that Crimsonwing will acquire the remaining 49% of Crimsonwing Promentum Holding BV and this will be partly funded by the issuance of new shares at a price of €0.30. Further details available here.
  • Share price of Simonds Farsons Cisk advanced by 6.6% to €1.95 on low volumes of 728 shares. On 25 April Simonds Farsons Cisk published their full year results for financial year ended 31 January 2012. The Group announced an increase of 26.1% in profit after tax to a record €4.7 million (2011: €3.7 million). The Board of Directors proposed a final net dividend of €0.0567 per share payable on 21 June.
  • The equity of RS2 Software was active for the first time since the cut-off date for the entitlement to the 1 for 15 bonus share issue. The share price edged 0.8% higher from its ex-bonus price of €0.516 as 1,000 shares traded at €0.52. In the Interim Statement published last Friday, RS2 announced that it is expected to move its operations to the newly developed Mosta Offices by the third quarter of this year. RS2 also announced that it set up a new fully owned subsidiary, RS2 Smart Processing Ltd, as the Group’s managed services arm.
  • Lombard Bank continued on its downward path as the equity shed another 1.3% to €2.27 on a single trade of 1,300 shares. This week Lombard’s equity dropped 3.4%.
  • HSBC Bank Malta also ended lower as it shed 0.4% to a 36-month low of €2.49 on a single trade of 150 shares.
  • BOV closed unchanged at €2.08 as a further 20,885 shares traded at this level. Earlier this week, BOV dropped to a 30-month low of €2.05.
  • GO maintained recent gains as the equity traded again at €0.88 resulting in a 3.5% gain for the week. Today GO plc issued its Interim Statement in which it announced that during the quarter of the year, average revenue per user declined with the mobile segment being impacted by lower termination rates imposed by regulators. Revenue remained strong across all main product lines and this is expected to remain so during the rest of the financial year. Overall, profitability during the first quarter is marginally ahead of that registered in the comparable quarter last year. Further details available here.