Substantial volumes traded in RS2 shares

Over 350,000 RS2 Software plc shares (representing almost 1% of the issued share capital of the Company) changed hands during this morning’s trading session on the Malta Stock Exchange. RS2’s share price held on to its 20-month high of €0.58 closing the week as the best performing equity with a rise of 5.5% in reaction to the strong financial performance during the first half of 2011. Earlier this week, RS2 Software revealed a significant rise in pre-tax profits to €1.6 million arising from higher sales of licences of BANKWORKS.

For the first time in four weeks, the equities of the two large banks also ended the week in positive territory. Bank of Valletta plc recorded a weekly gain of 0.4% after closing today’s session at the €2.52 level on volumes of almost 29,000 shares. Trading activity in BOV increased to a total of 142,718 shares this week. HSBC Bank Malta plc edged a further 0.4% higher to €2.67 during this morning’s session to end the week with gains of 0.8%.

GO plc also edged minimally higher today to €1.201 on low volumes of just over 2,000 shares. Despite today’s increase, the equity of the quad-play telecom operator still closed the week 5.1% lower in response to the mounting losses incurred by the Group. GO’s weekly decline together with the 3.8% drop in the share price of Malta International Airport plc and the 2.3% fall in MIDI plc offset the positive performing equities leading to a 0.2% drop in the MSE Share Index to 3,078.788 points.

The bond market continued to be characterised by further volatility in line with international trends. The Central Bank of Malta revised its Malta Government Stock bid prices sharply higher reflecting the drop in Eurozone yields back below the 2.10% level. The Rizzo Farrugia MGS Index ended this volatile week 0.2% higher at 992.463 points.