The new restrictions imposed in many countries to fight the pandemic are once again weighing on the markets. At Piazza Affari realizzi on Pirelli (-6.5%), Poste (+ 3%) celebrates accounts and interim dividend
by Andrea Fontana
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The new restrictions imposed in many countries to fight the pandemic are once again weighing on the markets. At Piazza Affari realizzi on Pirelli (-6.5%), Poste (+ 3%) celebrates accounts and interim dividend
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For the European stock exchanges it was a day of accomplishments. The lists took a break after the November rally (+ 17% Milan since the beginning of the month and + 16% around Eurostoxx50) also due to the new numbers of the pandemic, particularly in the US with 144 thousand cases in twenty-four hours. Waiting for the interventions in the evening by central bankers – Christine Lagarde for the ECB, Jerome Powell for the Fed and Andrew Bailey of the Boe at the ECB Forum – the indices all closed down: Piazza Affari lost 0.83% in the FTSE MIB, Frankfurt and Paris did worse by more than one percentage point. Banks and miners, among the great protagonists of the “awakening” of the price lists due to the US elections and above all to the progress of anti-Covid vaccines, were the most penalized sectors.
In Milan, the focus went on the companies that published quarterly accounts: a third quarter with profits up to 353 million and the announcement of the interim dividend sustained the + 3% of Poste Italiane. Rises for Hera (+ 1.7%) and Tim (+ 1.5%) after the accounts, while the realizations on Pirelli started (-6.5%) after the strong pre-results rise.
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Sitting down also for Wall Street, with decreases of around 1% for the Dow Jones and S&P 500 and 0.65% for the Nasdaq. The focus has returned to the pandemic. Some states, starting with New York, are imposing new restrictions and an advisor to President-elect Biden, Dr. Michael Osterholm, explained that a 4-6 week lockdown would be needed to keep the virus under control. The United States has recorded more than 144,000 new coronavirus cases, a record that follows those updated almost daily in recent weeks, according to data from Johns Hopkins University. It was the ninth consecutive day with more than 100,000 cases. Unprecedented numbers also for hospitalized people: they are 65,368, according to the Covid Tracking Project. In all, there are over 10.4 million confirmed cases in the United States, with nearly 242,000 deaths.
