Omicron is no longer scary, at least it does not do it to the stock exchanges which today scored one of the best sessions of the year. In the Old Continent, the stock markets yesterday were on the verge of collapse and today they closed a step away from euphoria. Piazza Affari even closed up by more than 2 percentage points.
In the last 4 days, the market trend has been influenced by the sentiment of operators towards Omicron. The stock exchanges rose if the news reported the low danger of the variant discovered in South Africa. Instead, news that Omicron was more aggressive pushed prices down. Omicron will thus affect Piazza Affari and the stock markets in the next Stock Exchange sessions, until it gradually loses its importance.
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Euphoria on the stock market and on these securities that make Piazza Affari fly, a cascade of money is raining
In recent days, the title Diasorin has been the litmus test. The stock rose and Piazza Affari fell, if the news reported that Omicron was becoming more dangerous. Conversely, Diasorin went down and the stock exchanges went up if the South African variant was perceived to be less aggressive than the Delta variant. The same scenario also happened today. The Milan Stock Exchange started well and closed strongly while Diasorin was the worst action among the 40 large-cap blue chips.
In Milan, the stocks that had been heavily penalized in the last few sessions jumped up. Suddenly the euphoria on the stock market is triggered and a cascade of money is raining down on these securities that make Piazza Affari fly. Stellantis and CNH, which until yesterday were sold heavily, today gained 5.6% and 3.3% respectively. Energy stocks also closed strongly up thanks to the recovery in oil prices. Tenaris rose by over 4.1%, Eni gained 2.2%. Bankers had their day of glory after many bearish sessions. Unicredit led the patrol with a 4% rebound. The share returned above the 11 euro threshold. BPER Banca gained 2.8% and Intesa Sanpaolo 2.5%.
Monte Paschi takes off on rumors of a new recovery plan
But the absolute star of the day was another bank. Monte Paschi Siena jumped by 16.7% thanks to an indiscretion. Brussels could give the Treasury another 18 months for the sale of the oldest institution in the world. In the meantime, the Treasury, the largest shareholder, would launch a new capital increase and a new recovery plan.
At the end of the session, the Ftse Mib index (INDEX:FTSEMIB) closed up 2.15%, the best session since 21 July. Prices stopped at 26,371 points.
Deepening
