Negative session for all the exchanges of the Old Continent. European equity markets lost ground mainly due to two factors. The first factor is the closing of Wall Street for Thanksgiving. The second factor that pushed the lists down was the sales for profit taking.
In truth the two elements are linked together, perhaps the second is a consequence of the first. Let’s see how, according to the analysis of the Study Office of ProiezionidiBorsa, these two factors have pushed the stock exchanges down today.
Pause for reflection for the Milan and European stock exchanges
Let’s start with the closing data. The Ftse Mib index (INDEX:FTSEMIB) of Piazza Affari closed down by 0.4%, ending the session at 22,200 points. The German Dax and Paris remained practically unchanged, London lost 0.4%, Madrid 0.7%.
As can be seen, these are marginal losses, due to some profit taking, which was not offset by purchases. Because? Because the US stock exchange is closed today for Thanksgiving and it will be tomorrow too. So there is a complete lack of American investors on the European markets and they will be tomorrow too.
These two factors pushed the stock markets down today
The absence of overseas operators reduced trading volumes and therefore even the few sales for profit taking ended up weighing heavily. Indeed, it can be said that those who wanted to sell to monetize the profit positions, took advantage of this event.
In fact, in Piazza Affari today the worst blue chips are those who had earned the most in recent days, namely BPER, Unicredit, Azimut, Saipem. Securities certainly sold by those who had in their portfolio for a few days and decided to take advantage of them to monetize their earnings.
Utilities revised up today, with A2A gaining 4% thanks to positive news concerning the company.
Deepening
This the multidays analysis and the analysis of international markets by the ProiezionidiBorsa Research Department.
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