After yesterday’s strong rebound, the Milan Stock Exchange continued to recover today as well. Too bad some news we have slowed the pace by folding prices in the final. Yet the day got off to a good start with the opening well beyond yesterday’s closing level.
Piazza Affari and the main lists of the Old Continent went up until lunchtime, then began to fold. Unfortunately, 2 news items shorted the stock exchanges and pushed prices down, which in any case ended in positive territory. Too bad that the closing was far from the highs reached during the day.
2 news has shorted the stock exchanges and pushed prices down
But what caused upward prices to turn down? The Ftse Mib (INDEX:FTSEMIB) today started higher and marked the first price above 24,800 points. Passing this level confirmed what was written in the article “On the stock market, a sensational scenario can reopen if this condition occurs“. Exceeding 24,800 points could allow the attack to reach 25,000 points.
Unfortunately, a statement from the ECB had a disorienting effect for traders. The ECB confirmed that interest rates will remain low for a long time to support the economic recovery. However, the president of the ECB has expressed fear for economic growth due to the spread of the contagions of the Delta variant of Covid.
Traders had a small short circuit, welcoming the news on rates positively, but negatively the fears about economic growth. In the end they preferred to give more weight to this second news. At the end of the session, the German stock exchange closed with a gain of 0.6%, Paris by 0.2%, London lost 0.4%. The Ftse Mib closed up by half a percentage point, finishing at 24,805 points.
Among other things, the uncertain start of Wall Street also weighed on the closing of the stock exchanges. US stock indices at the end of the session in Europe were in the red. The data on new weekly jobless claims caused the weak start of the US stock exchanges.
The figure has grown compared to the previous one and the number of requests has reached the maximum of the last two months. This result has spread fears about the slowdown in the growth of the US economy.
Deepening
This the multidays analysis and the analysis of international markets by the ProiezionidiBorsa Research Department
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