In spite of a sluggish trend, today’s session was a record session for the stock exchanges. On the German stock market, the Dax index reached a new all-time high.
In Piazza Affari the Ftse Mib reached the highest levels of the year and of the last 12 months. Furthermore, on the Milan list, some shares have achieved a significant jump in prices. Let’s analyze the record rises on the stock market for the Italian index and for 3 stock market shares.
The bankruptcy of a US hedge fund curbs the run of European stock exchanges
The first session of the week was sluggish in Europe. The tensions in the US stock markets and the story of the blockade of the Suez Canal weighed on the stock exchanges.
These two events increase the lack of desire of the operators to take a position in the Easter week. In fact, from Friday 2 April to Monday 5 April, many stock exchanges will be closed. It will return to full capacity only in the session of 6 April. Such a long bridge worries traders, especially if the world’s main stock exchange, Wall Street, starts off badly in the first session of the week.
It is not so much the negative start that affected the investors, but the reasons, which could soon also concern the European stock exchanges. A large US hedge fund, sources report that the name is Archegos Capital, has gone bankrupt.
The news disrupted the market and sent many of the US banking stocks down. The news may seem of little importance, but those who operate on the stock exchange remember how in the past the failure of semi-unknown hedge funds, then overwhelmed the stock market.
Record increases on the stock market for the Italian index and for 3 shares of Piazza Affari
The Italian stock exchange also had a flat trend today. The Ftse Mib index (INDEX:FTSEMIB) closed up 0.12% to close at 24,421 points. A minimal variation that hides an important novelty. In the afternoon, the blue chip index hit two records. It hit a year-to-date high of 24,485 points, which is also the high of the last 12 months. If this news hadn’t disturbed the European stock market, the first day of the week would have been much brighter.
The rise was favored by two stocks in particular, Poste Italiane and Telecom, which were among the most traded. Poste, which finished up 2.2%, was up thanks to positive impressions from analysts who met with the company’s management. Telecom, which gained 1.6%, continues the recovery in prices, which began last week.
But the incredible leap was made by 3 small cap stocks. Conafi, which we talked about in this article, Caleffi and Nova Re, recorded record increases, between 15% and 16%.
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