Omicron stops the stock exchanges and Piazza Affari retreats but a cascade of money rains down on a stock

False start for the European stock exchanges. Equity markets closed the first session of the week down, also conditioned by the downward start of Wall Street. Yet the European indices had started trading higher. At the start of the session, the main lists were positive. Then, as the hours passed, a certain weakness took over that weakened the rise and turned it into a decline. The negative start of the American stock market accelerated the decline.

At the end of the session, all of the main lists in Europe ended up closing in negative ground. The German stock market limited the damage by closing virtually unchanged. The Paris stock exchange closed down 0.7% and London fell close to 0.9%. The Euro Stoxx 50 index closed down 0.4%.

Omicron stops the stock exchanges and Piazza Affari retreats but a cascade of money rains down on a stock

The difference in performance between the London and Frankfurt stock exchanges suggests one of the reasons that prompted traders to be cautious. In Germany, the weekly rate of people infected with Covid has dropped by about 15%, while in Great Britain the infected are growing. This situation could push the government to take new restrictive measures for the Christmas holidays, with a negative impact on the business related to the holidays.

The fear of inflation that could push central banks to anticipate interest rate hikes is the other reason that has held back the stock exchanges. The FOMC, the FED committee, will meet on Wednesday. Traders expect the Federal Reserve strategy for 2022 to come out of that meeting. Pending the Fed’s decision, traders prefer to wait to buy. Tensions between Russia and Ukraine, which also push up the price of natural gas, are also a disturbing factor for the market.

Disappointing day also for Piazza Affari but not for this title

In this scenario, Piazza Affari closed down in the wake of the other European stock exchanges.

The Ftse Mib index (INDEX:FTSEMIB) ended the session losing 0.6%. Prices closed at 26,551 points. Only 11 stocks among the top 40 by capitalization closed higher. The best was Recordati with a gain of 1.4%. Diasorin also closed up 0.4%. The positive trend of the two main pharmaceutical stocks on the list shows how operators are attentive to infections in Europe. Omicron stops the stock exchanges and Piazza Affari retreats but a cascade of money rains on a stock and prices rise by almost 30%. Piovan made a 29% gain thanks to a corporate transaction that was liked by the market. The action ended the session at € 11 at an all-time high.

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