RS2 Software regains its 2011 high

During this morning’s penultimate trading session of 2011 on the local stock exchange, fresh demand for RS2 Software plc helped the share price advance by 1.7% to regain its 2011 high of €0.60 on volumes of almost 9,200 shares. RS2’s equity is set to close the year as the best performer on the back of improved financial results and the higher dividend which in turn spurred new demand for the equity.

The share price of the two large banks held on to yesterday’s gains as both equities closed unchanged. HSBC Bank Malta plc maintained the €2.58 level on low volumes of 1,000 shares with 1,821 Bank of Valletta plc shares traded unchanged at the €2.51 level. Similarly, the share price of Malta International Airport plc was also unchanged at €1.69 across three trades amounting to over 2,700 shares.

Meanwhile, Simonds Farsons Cisk plc closed in positive territory as 3,383 shares changed hands at the €1.80 level representing a 5.3% rise over the previous close.

Overall the MSE Share Index ended today’s session 0.1% higher at 3,090.657 points. The local equity benchmark is heading to close the year in negative territory for the first time since 2008 as four of the five largest equities by market capitalisation are expected to post double-digit declines across the last twelve months.

On the bond market, the Rizzo Farrugia MGS Index closed higher for the fourth consecutive session with another 0.1% rise to a new 7-week high of 988.33 points. This reflects the recent retreat in yields which are currently at 1.85% as concerns over the Eurozone sovereign debt crisis remain despite the €489.2 billion 3-year loans issued by the European Central Bank last week and the lower yields on the new bond auctions by the Italian Government over the past two days.