Mild gains for most active equities

Most of the active equities closed in positive territory during this morning’s session with the MSE Share Index edging 0.4% higher to 3,329.519 points.

Bank of Valletta plc reversed yesterday’s 0.6% drop as the equity recouped the €2.82 level across twelve trades totalling just under 12,300 shares. HSBC Bank Malta plc also recovered some of yesterday’s 0.7% decline as its share price edged 0.3% higher to regain the €2.95 level on a single trade of 1,000 shares.

Further demand for Middlesea Insurance plc shares helped the equity rise another 1.9% higher to €1.05 across four trades totalling 4,770 shares. MaltaPost plc also traded higher with its share price adding 1.3% to €1.084.

GO plc’s equity continued to gradually recover from the sharp downturn since the start of the year. The share price closed higher for the fifth consecutive session with gains of 1.1% to €1.375 on volumes of 5,000 shares.

The other active equity during this morning’s session was Malta International Airport plc which traded unchanged at the €1.70 level across 3,200 shares.

This week FIMBank plc and RS2 Software plc published their Interim Statements. The trade finance specialist stated that the overall Group performance since the start of 2011 is satisfactory and remains supported by strong risk management, low impairments, a healthy balance sheet and strong capital and liquidity ratios.

Meanwhile, RS2 revealed that during the first quarter of 2011 it concluded contracts with new clients in both the United States and the Philippines. RS2 reassured investors that following the attainment of these new contracts, its targets in terms of new licences for 2011 have already been met. As such, the Directors expect 2011 to continue building on the success of the past years, particularly that of 2010. RS2 also made reference to their statements in 2009 with respect to the slowdown in requests for services. The company explained that the improvements seen since the second half of 2010 to date support the view that this was a reflection of delays in spending by clients, but not of cancellations of business. In this respect the company noted further client requesting underpinning their optimism for 2011.