Correction day from the highs of recent days today on the European stock exchanges. The indices have all taken a step backwards, due to the cooling of enthusiasm after Pfizer’s discovery of the Covid vaccine.
Probably in the decline of the stock markets today there was a news that caused uproar and disorientation. With the analysis of the Stock Exchange Projection Experts, we find out what happened today on the Stock Exchange and what news has impacted the markets.
In the fall in the stock markets today there was news that caused clamor and disorientation
Markets shot up at 12.45 on Monday due to the arrival of a bombshell. The US pharmaceutical company Pfizer has tested a Covid vaccine with a 90% efficacy. At the news, the prices of the stock exchanges exploded higher.
Obviously, the prices of Pfizer shares also shot up, gaining 15% compared to the previous session. Yesterday, Pfizer CEO Bourla was reported to have sold $ 5.5 million worth of stock on the day of the announcement.
All regular, a legal operation. But the question that traders are now asking is why he has sold such a large package of shares.
Those who sell generally think that prices cannot rise that much (in fact in the following days the stock fell by 10%). And if Bourla thinks the stock can’t rise above this level, then he may know something the market doesn’t know.
The short-term upside potential of the Milan stock market remains intact
Also thanks to these arguments that the markets today have retreated and Piazza Affari together with these. Even if the Milan Stock Exchange managed to do better than the other European squares. At the end of the session, the blue chip index, the Ftse Mib (INDEX:FTSEMIB), closed down 0.8% to 20,817 points.
Even with this negative session, the upside potential of the Ftse Mib remains intact. Tomorrow there is always the possibility of returning above 21,000 points and going to attack the maximum at 21,130 points. On the other hand, in recent weeks the Milan stock exchange has accustomed us to seeing rising Fridays. It could happen tomorrow too.
Deepening
This the multidays analysis and the analysis of international markets by the ProiezionidiBorsa Research Department.
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