GO’s share price touches 25-month low

During this morning’s trading session on the Borza, GO plc’s share price touched a new 25-month low of €1.45 as investors continued to shun the equity following the 50% cut in dividend and the prevailing uncertainty surrounding the Group’s investment in the Greek telecoms company, Forthnet. GO’s equity partially recovered by the end of the session to close just 0.7% lower at the €1.48 level. A total of 18,200 shares changed hands today. The shares of GO will continue to trade with the entitlement to the final net dividend of €0.05 per share until 4 May.

Bank of Valletta plc edged 0.7% lower to the €2.901 level across ten trades totalling over 15,000 shares. Last Friday, the European Banking Authority revealed that BOV was one of the 90 banks chosen to undergo the new wave of bank stress tests. Meanwhile HSBC Bank Malta plc inched minimally higher to close at the €2.955 level across four trades totalling 7,416 shares. HSBC Malta will also be indirectly scrutinised by the European Banking Authority as HSBC Holdings plc was chosen to participate in the new stress tests.

Also in the financial sector, Lombard Bank Malta plc eased 0.7% below the €3.00 for the first time since 3 February 2011. Over 8,800 shares changed hands today. Middlesea Insurance plc closed unchanged at the €0.80 on volumes of 9,825 shares.

This morning Malta International Airport plc announced its March 2011 traffic results. The statistics reveal an increase of 16.4% in passenger movements to 240,360 during March (the highest level ever registered in this month) mainly due to a record seat capacity. The March traffic figure includes an amount of 7,465 movements generated from the Libyan-related evacuation flights. The normalised growth rate for the month of March excluding these one-off movements is of 12.8%. During the first quarter of 2011, passenger movements increased by 16.5%. A small deal of 285 MIA shares was transacted this morning with the share price edging minimally lower to €1.759.

This afternoon RS2 Software plc published its 2010 financial statements revealing a strong increase in profitability from €1 million in 2009 to €2.9 million. The Directors declared a net dividend of €0.032 per share to those shareholders as at close of trading on Wednesday 27 April.