The ups and downs of the Milan Stock Exchange continues. After yesterday’s session with a marked downturn, today an upward session arrived. The prices of the major index of Piazza Affari closed in positive territory, together with the main European stock exchanges. An unexpected news has pushed the prices of the stock exchanges because it will have a positive impact on energy bills.
The price swing of Piazza Affari continues
The Milan Stock Exchange continues its fluctuating trend. In Piazza Affari we are at the eighth consecutive session of change of sign. From September 28, the positive and negative sessions alternate with regular daily life. This gives the perception of the strong uncertainty that reigns on the market. When there is no clear direction of the market, investors prefer not to take strong positions and navigate on sight.
There are many factors that create uncertainty among operators. The rise in the price of oil, the rise in government bond yields, the dangers of inflation are all negative elements for the lists. The prospect of reducing extraordinary interventions to support the economy by central banks also weighs. These factors have stopped the race of Piazza Affari and the European stock exchanges for 2 weeks. They also brought down the Wall Street Stock Exchange from its highs.
Today the sun shone on the stock market and these problems were put aside for a day. The European lists all closed with marked increases. The Euro Stoxx index finished the session with a jump of 2.1% and the German Dax index closed up 1.8%. The Paris stock exchange made a jump of 1.6% while London has to be satisfied with a rise of 1.1%. The Milan Stock Exchange also participated in the party. The major index of Piazza Affari, the Ftse Mib (INDEX:FTSEMIB), closed with a gain of 1.5% to close at 25,992 points.
When the markets of the Old Continent closed, the US stock market indices rose by one and a half percentage points.
An unexpected news has pushed the prices of the stock exchanges because it will have a positive impact on energy bills
But what happened to the stock exchanges today? Perhaps all the problems that have damaged the price lists have been solved so far? Unfortunately this is not the case. Today the European stock markets rose above all due to important news that does not exclusively concern the stock market but the entire European economy. From Russia came an opening on the possibility of increasing gas supplies to Europe.
The surge in gas prices in recent months has affected not only the bills of individual users but also those of companies. According to analysts this is one of the factors that contributed to the 4% decline in industrial production in Germany in August. Rising energy commodity prices can slow down the global economic recovery.
The possibility that Russia could supply gas to Europe immediately pushed down natural gas prices. It is no coincidence that the two worst blue chips on the Milan list today were Saipem and ENI.
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