After the bad session on Tuesday, the European stock exchanges are trying to find the road to the upside. After the heavy losses suffered in the last session, today’s rebound is minimal. Probably a large part of this rebound is due to the coverings of those who yesterday bet short in the open.
Betting on short stock falls means selling shares you don’t have. However, these shares will be delivered to those who bought them. Thus the traders who have bet on the downside, in the next session buy the shares to be delivered. The profit lies in the difference in price between sale and purchase. If I short sell a stock that costs 100, I will cash out 100. If the stock goes down the next day, you can buy it at maybe 90. The difference is the trader’s profit.
Piazza Affari makes a bounce dragged by a sector while two stocks soar
At the end of the session, the stock exchanges of the Old Continent recorded an increase between half a point and one percentage point. The Euro Stoxx 50 index gained 0.5%, the German stock exchange 0.7%, Paris rose 0.8%. London did best of all, up 1.1%.
The session was also positive for Piazza Affari. The Ftse Mib index closed up by 0.6%. Prices closed at 25,763 points, above the 25,700 point threshold and this is undoubtedly a positive note. Today it was important that the major index of Piazza Affari closed above 25,700 points. Our Analysts explained the reason in the article: “If the panic continues, Piazza Affari risks the collapse that only this event can ward off”.
A rise of 0.6% is not exceptional but it takes the stock market away from the risk of collapse. To push once again the prices of the Ftse Mib (INDEX:FTSEMIB), were bank stocks. Today in the top four for performance among blue chips, there are three bankers. Unicredit gained 3.7%, BPER Banca 2.5% and Mediobanca 2.7%. The skirmishes between shareholders pushed Piazzetta Cuccia’s stock up.
Today two titles are on the Italian list
But there are not only bankers to move the stock market. In fact, today Piazza Affari makes a rebound dragged by a sector while two titles soar, Digital Bros and Philogen. Institutional investors welcomed Digital Bros’ half-year report and the stock rose 5.2% to close trading at € 30.88. Obviously, the operators also appreciated Philogen’s half-yearly report. Today the stock was the best on the stock market, climbing 6.9% to close at € 14.2. Even if the half year showed negative accounts.
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