The global uncertainties weigh down the climate on the markets and stop the European stock exchanges and our list. However, in Piazza Affari there is no shortage of bullish ideas for individual stocks. Two in particular today stood out, despite the lackluster session.
4 factors nail the stock exchanges and Piazza Affari still slows down while two stocks fly
Today the European stock exchanges have suffered a new decline. Markets are pricing in some uncertainties that are not conducive to buying. Inflation, Evergrande, economic growth in the US and China are the open dossiers on the table of analysts and financial operators. These dossiers push large investors to be cautious.
The risk of default of Evergrande, the second largest Chinese real estate company, seems to have been shelved for the moment, but the risk remains. Inflation is another element that bothers investors because if it were to continue to rise it would push central banks to raise rates. Confirming these fears in Germany, inflation rose to 4.1% in September.
In addition, doubts about the robustness of the economic growth of the two largest world economies, the USA and China, return. Today in the USA, for the third consecutive week, an increase in requests for weekly unemployment benefits was reported. This figure shows the difficulties of the US economy in creating new jobs. In China, industrial production grew less than in the previous month in July.
These four factors pushed European stock markets down in today’s session. The Euro Stoxx 50 index lost 0.8%, the German stock exchange 0.7%, Paris fell by 0.6%, London by 0.4%. After an uncertain start, Wall Street also turned lower and by the time the European markets closed all three indices were down.
Milan stock exchange uncertain but two stocks take off
Even Piazza Affari (INDEX:FTSEMIB) closed down, but did better than the other major lists. The Ftse Mib index lost 0.2%, closing at 25,683 points. Today was a session in which these 4 factors nail the stock exchanges and Piazza Affari still slows down while two stocks fly. Today on the Italian price list the contribution of the banks has been lacking. Or rather, the flat trend of the banks made the major index of Piazza Affari move little. Only one bank stock was highlighted, Mediobanca. The stock closed up 1% at € 10.44, on the highs of the last 12 months.
Another stock shot up today continuing the run that started yesterday, Digital Bros. Yesterday the stock gained 5% boosted by half-year results, today it was up another 7%. Our analysts had focused on this title in the article: Piazza Affari makes a bounce dragged by a sector while two stocks soar.
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