Following yesterday’s media release by Crimsonwing plc revealing three new international contracts including one with Mothercare, fresh bids emerged this morning lifting the equity 28% higher to a new 1-year high of €0.32 on volumes totalling 49,500 shares. Lowest offers in Crimsonwing shares are now placed at the €0.35 level. Crimsonwing’s CEO Mr David Walsh also revealed that the Company is implementing a 3-year plan aiming to grow turnover to €20 million and achieve a pre-tax profit of €2 million.
The share price of Bank of Valletta plc also climbed by 1.3% during this morning’s session to regain the €2.30 level ahead of the Bank’s full-year results publication on Friday. A total of 10,604 shares changed hands today across eleven trades with further shares on offer at the €2.30 level.
Meanwhile, the share price of HSBC Bank Malta plc eased by 0.7% (the fifth consecutive decline) back to the €2.701 level on volumes of just over 8,500 shares. Also in the financial sector, Lombard Bank Malta plc held on to the €1.87 level on a single deal of 3,000 shares.
All other active equities ended today’s trading session unchanged on low volumes.
On the bond market, the Rizzo Farrugia MGS Index eased 0.1% lower to a new 5-week low of 994.075 points although Eurozone yields were range-bound between 1.60% and 1.61%. Meanwhile, Spanish 10-year yields have again surpassed the 5.5% level after Moody’s downgraded five of the country’s regions including the Catalonia region which is one of the highest indebted regions.
Last week the Treasury announced the issue of 3 new Malta Government Stocks for a total aggregate amount of €100 million subject to an over-allotment option of up to a further €40 million. The 3 new stocks are: (i) 3.75% MGS 2017 (IV) (Fungibility Issue); (ii) 4.3% MGS 2022 (II) (Fungibility Issue) and (iii) 4.8% MGS 2028 (I). Offer prices will be determined on Thursday 25 October 2012 ahead of the opening of subscriptions on Monday 29 October.