It was a very strange session for the stock exchanges. After a positive start all morning, prices moved higher, then suddenly the mood changed. Equity markets began to decline conditioned by news from overseas.
As every day for several weeks, the opening of Wall Street is awaited with particular attention by operators. Today the opening of the US stock exchange was most eagerly awaited after yesterday’s market close. As written in the article “Banks with the wind in their sails while the Special One makes sparks on the stock market”Wall Street was closed yesterday. America celebrated Independence Day and European stock exchanges celebrated by closing higher.
Today Piazza Affari at risk of collapse sunk by this formidable one-two
Unfortunately, the celebrations did not last long and today the first prices coming from Wall Street have caused the prices of the Old Continent markets to collapse. Yet the morning had started off on the right foot and until lunchtime the stock exchanges were in positive territory. Then, at 3.30 pm all the main European squares took the path of decline.
At the end, the lists closed with losses of just under one percentage point. The Milan stock exchange has sold with the other main stock exchanges. The Ftse Mib (INDEX:FTSEMIB) closed down 0.8%, at 25,272 points.
But what happened to the Milan stock exchange, why did traders suddenly change their mood? The collapse of the oil price and the new thud of the bankers have weighed down the Milan stock exchange. And now it is necessary to pay attention to Piazza Affari, today at risk of collapse, sunk by this formidable one-two.
Falling crude oil prices pushed Wall Street lower in the start, which in turn negatively impacted European stock exchanges. Crude oil prices fell sharply in the morning due to tensions within OPEC. In Piazza Affari, the drop in oil has pushed down the prices of some energy stocks. Tenaris sank by 4.7%, Saipem by 2.2%.
The bankers have given the coup de grace. Banco BPM sold 3.1%, Mediobanca 3%, Unicredit 2.8%, BPER Banca 2.6%. A bad period could be expected for credit securities and for Piazza Affari.
Deepening
This the multidays analysis and the analysis of international markets by the ProiezionidiBorsa Research Department.
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