Share price of Farsons maintains recent gains

Continued demand for shares of Simonds Farsons Cisk plc helped the equity maintain its recent gains. The share price of Farsons advanced by 6.5% since last week’s publication of a strong set of financial results for the year ended 31 January 2011. This morning, all outstanding offers at the €1.80 level amounting to just under 11,000 shares were taken up. The equity will continue to trade with the entitlement to the final net dividend of €0.0533 until close of trading on 19 May.

The only positive performer of the day was HSBC Bank Malta plc whose share price added 1.4% to regain the €2.96 level. The gain in the share price of HSBC helped the MSE Share Index add a further 0.3% to 3,343.101 points. Last week the equity drifted back towards €2.91 but with lower levels of supply below the €3.00 level, the fresh demand that entered the market today forced the share price up to €2.96. Meanwhile, also in the banking sector, the share price of Bank of Valletta plc held on to €2.895. BOV is due to publish its March 2011 interim results on Friday 29 April.

Among the losers of the day, Malta International Airport plc traded minimally below the €1.70 level on a single trade of 7,000 shares while Middlesea Insurance plc gave back most of its recent gains as this equity dropped 3.7% to €0.857 on increased volumes totalling 17,058 shares.

Elsewhere, GO plc and RS2 Software plc closed the day unchanged. The share price of the telecoms operator traded again at its all-time closing low of €1.40 with a further 13,936 shares changing hands at this level. The equity of the IT company continued to trade at €0.519 with a total of 25,500 shares passing through the market this morning. Yesterday afternoon, RS2 announced an extension to its cut-off date and the equity will now be trading with the entitlement to the net dividend of €0.032 per share until 10 May.