Piazza Affari stumbles on the finale and ruins a day that had started as best it could not. To hold back the Italian index, and the European stock exchanges, was a bad opening of the Wall Street stock exchange. This continues its influence, for better or for worse, on the markets of the Old Continent.
On the Milanese list, bank stocks also gave their share. There is more and more pressing big trouble for the banks that today have ballasted Piazza Affari.
In fact, it was this negative factor that brought the Italian stock market down today. Let’s analyze the day with the study of the Bag Projection Experts.
A strong start and an almost free fall finish
The day in Europe had started in the best way. Yesterday’s positive close on Wall Street and the positive Euro zone manufacturing index data pushed the markets to start. The Ftse Mib index in the middle of the session managed to return above the threshold of 19 thousand points and achieve a maximum of over 19,100 points for the day.
But the godsend did not last long. At lunchtime, prices started to drop. At 3pm, when it began to be understood that Wall Street would open in red, the decline accelerated.
At the end of the session, the Ftse Mib index (INDEX:FTSEMIB) closed up 0.2% at 18,929 points. The German Dax index fared somewhat better, gaining 0.4%. The European Euro Stoxx index rose 0.5%. But they all underwent a major downsizing in the final.
Big trouble for the banks that today weighed down Piazza Affari
The major downsizing, however, was suffered by Piazza Affari, once again ballasted by the banks. It was three bankers, the worst blue chip stocks of the day. Banco BPM, which sold 3.7%, Unicredit, which fell by 3.1%, Bper Banca, which lost 2.8%. Intesa Sanpaolo also fell sharply, losing 1.8%.
On the other hand, Snam is showing signs of life, which after a week of declines, today scores a session with a marked rise. The stock was up 3% at the end of the day. But above all it realizes a bullish gap, demonstrating today’s strong rebound in prices.
To continue the rise, tomorrow will have to exceed € 4.40, to reach € 4.50. While a return of the prices below 4.27 euros will confirm the downward trend underway since 14 September.
Deepening
To know the multidays analysis and the point of view of the international markets of the ProiezionidiBorsa Study Office, click who.
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