Equities gain as positive sentiment prevails

The Malta Stock Exchange (MSE) index headed higher for the second week running as several equities traded higher led by Midi plc followed by Maltapost plc. A handful of small caps also rose but banks barely contributed to last week’s gain as Bank of Valletta plc (BoV) was the only winner. Go gained further ground while Middlesea Insurance plc was the week’s only loser. Given that last week’s gain was driven by several small caps the local index gained just 0.5 per cent to close the week at 3,230.435 points. In turnover terms BoV was the most liquid issue as over €245,000 was traded in 65 deals while Plaza Centres plc followed with €160,000. During the week 17 equities were active, and the total trading value reached just over €1 million, down from €1.5m a week earlier. In the fixed-income markets there was nearly €28 million worth of trading. The Malta Government Stocks market was the most liquid with €27.4m being traded across 25 issues. The 7.8 per cent MGS 2018 was the most liquid as €14m was dealt over seven trades. Meanwhile demand for long-dated issues was much more contained as yields became less attractive given the recent price increases. Meanwhile in the equity market,...