More sales on banking stocks: the sector is weighed down by the crash suffered on Wall Street by First Republic. Bad UniCredit. Juventus FC still in trouble at MidCap
The major indices of Borsa Italiana and the main European financial centres are confirmed in negative territory. According to Pierre Veyret – technical analyst at ActivTrades – investors are likely to need more news that could restore bullish sentiment, in the form of improving macro data or significant dovish moves by central banks, before restoring liquidity towards riskier activities. Meanwhile, the expert predicts that equity markets continue their current bearish correction of their short-term hike that started at the end of March. “Technically speaking, the index STOXX50 paved the way for a deeper correction after the breakout of the 4,365 point level“, highlighted Pierre Veyret.
At 16.30 the FTSEMib it lost 1.02% to 26,976 points, after fluctuating between a low of 26,852 points and a high of 27,167 points. At the same time the FTSE Italia All Share was down 0.99%. Also in red FTSE Italia Mid Cap (-0.67%) and the FTSE Italia Star (-0,75%).
Il bitcoin it was close to 30,000 dollars (just under 27,000 euros).
Lo spread Btp-Bund remains below 190 points, with the yield of the ten-year BTP which fluctuates around 4.25%.
L’euro it surpassed $1.105.
More sales on banking sector stocks, after the sharp declines recorded in the previous session, in the wake of the UBS quarterly. The collapse suffered on Wall Street by First Republic weighs on the sector.
Male UniCredit (-2,35% a 17,922 euro). As part of the ordinary share buyback program launched on 3 April 2023, the bank announced that, in the sessions between 17 and 21 April 2023, it purchased 10.24 million treasury shares, at the weighted average price of 19.438 euro per share, for a total value of 199 million euro.
Worst performance for BancoBPM (-5,69%) e BPER Bank (-6,18%).
At MidCap still struggling Juventus FCafter the strong correction suffered in the previous session. The title of the Juventus club lost 3.19% to 0.2978 euros.
Among the companies listed on Euronext Growth Milan focus on UCapital24 (suspended due to excess deviation, with a theoretical progress of 7.3%). Borsa Italiana has communicated that from Wednesday 26 April 2023 and until further communication on the company’s ordinary shares, it will not be possible to place orders without a price limit (orders at best).
2023-04-26 14:34:00
#FTSEMib #negative #closure
