Share price of Simonds Farsons Cisk up 5%

The share price of Simonds Farsons Cisk plc jumped by a further 5% to a new 42-month high of €2.10 during this morning’s session on a single trade of 10,833 shares. Following this latest upturn, Farsons’ equity is currently 22.1% higher from its 2012 low of €1.72 reached in March prior to the publication of the Group’s financial results for the twelve months ended 31 January 2012. The results revealed a record revenue figure of €70.9 million which translated into a 26.1% increase in profit after tax to €4.7 million (2011: €3.7 million). The total net dividend in respect of the year ended 31 January 2012 also amounted to a record of €0.07 per share.

Elsewhere in the local equity market, Bank of Valletta plc continued to trade in a tight range with the share price moving 1.5% higher to regain the €2.08 level across four trades totalling 5,841 shares. Meanwhile, HSBC Bank Malta plc retreated by 0.8% to €2.481 on very low volumes of 655 shares.

GO plc also traded lower closing at €1.175 after again recovering from an intra-day low of €1.15. A total of 2,500 GO shares change hands today. Malta International Airport plc and Grand Harbour Marina plc also closed in negative territory on single trades. MIA’s share price eased 0.6% to €1.77 on volumes of a mere 360 shares whilst the equity of the marina operator slid 1.1% to €1.828 across 30,000 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% lower to 985.046 points as Eurozone yields climbed above the 1.50% level. Markets are now focusing on this week’s summit of EU leaders which will focus on greater fiscal union amongst members as Cyprus formally requested a bailout for an undisclosed amount.