GO up 2.3% in December's first session

The share price of GO plc kicked off the month of December in positive territory on the stock exchange today following three consecutive monthly gains. Earlier in the year, the equity of the quad-play telecoms operator had sunk to historic lows as the profits generated by the local operations were still being offset by the losses incurred on the Group's share of the investment in the Greek telecoms group Forthnet. However, after the Annual General Meeting in May, during which GO's directors revealed the set-up of a new subsidiary which will be entrusted to extract value from the Group's €50 million property portfolio, GO's share price rallied to reach a 2012 high of €1.20. Selling pressure resurfaced during the months of July and August on the back of renewed uncertainty on whether GO will subscribe to its share of the €30 million Forthnet rights issue. Although the decision has not yet been taken, the share price of GO recovered by 25.3% during the past three months. This morning GO's share price edged a further 2.3% to regain the €1.09 level across six trades totalling 10,000 shares. Bank of Valletta plc shares also traded higher this morning with a 0.2% increase to the €2.42...