The Super Mario effect continues in Piazza Affari. Even today the Milan stock exchange closed with a marked rise. The list started with caution. Prices have been hovering around zero all morning. Then, Piazza Affari took off thanks to two events, the opening of Wall Street and the start of consultations by Draghi.
Let’s analyze the events that characterized this stock exchange day, thanks to the ProiezionidiBorsa Research Department.
The super Mario effect pushes Piazza Affari again
The markets are beginning to believe that Draghi can do the government and even today purchases have rained on the Milan Stock Exchange. At the end of the day, the Ftse Mib index (INDEX:FTSEMIB), closed at 22,900 points, up 1.6%. A result very close to what the Stock Projection Experts had hypothesized in the analysis that precedes the opening of the markets (this is the article).
True, Piazza Affari has put the turbo thanks to two events, namely the rise of Wall Street and the beginning of the consultations. In reality, the purchases arrived not so much for the initiation of contacts between the parties and the President in charge.
The markets took courage thanks to the first openings of the parties to the hypothesis of a Draghi government. Silvio Berlusconi explicitly gave Forza Italia support. Luigi Di Maio made an appeal to the 5 Stars asking for an act of maturity in supporting the nascent government.
The spread also celebrates the hypothesis of the Government in Draghi
Equally important was the positive opening of Wall Street. Unemployment claims in the US dropped last week. This allowed the US stock exchange to open higher. But above all, the data indicates that the economic recovery in the United States continues.
But to understand how the Draghi effect makes itself felt it is useful to analyze two other factors, the performance of the other exchanges and the trend of the spread. In Europe it was a positive session, the German stock market gained 0.9%, the French one 0.8%, Madrid rose 1.4%. Good increases but much lower than the Milanese price list.
The other important element is the spread. The spread between BTPs and Bunds fell again today, reaching 100 points. In two days it dropped by fifteen points. To find it so low you need to go back five years, to 2016.
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(We remind you to carefully read the warnings regarding this article, which can be consulted who”)
