European stock exchanges experienced a weak session today. The sky above the stock markets remains quite clear even if two clouds are gathering on the Old Continent’s markets. The Milanese market also experienced a weak session. Fortunately, a shower of money has fallen on these 2 stocks with record increases that save Piazza Affari.
Two clouds gather on the stock markets and could create a storm
On the stock markets, the issues that were turning today among the operators concerned two latent fears that have always existed and never subsided. The first concern is the level of inflation. The data on the cost of living in the euro area were released today. In October, the level of inflation in the European Union stood at 4.1%, more than double the target set by the European Central Bank. Traders are beginning to fear that if inflation continues to rise, the ECB should abandon accommodative monetary policy very soon. Although on Monday, ECB President Christine Lagarde confirmed that no rate hike is on the horizon at the moment. Indeed, Lagarde reiterated that at this time an increase in the cost of money would only be detrimental to the EU’s economic growth.
The other fear of operators is the expansion of those infected by Covid in Europe. New restrictions could harm the ongoing economic growth and obviously the markets don’t like this.
So in this uncertain climate today the lists of the Old Continent closed close to zero. The Euro Stoxx 50, the German and French exchanges closed virtually unchanged. London fell by half a percentage point. The weak start on Wall Street also impacted the weak closing of European stock exchanges.
Rain of money on these 2 stocks with record increases that save Piazza Affari
The Milan Stock Exchange also aligned itself with the results of the main European lists. The Ftse Mib index (INDEX:FTSEMIB) closed up by 0.07% at 27,824 points. Two blue chips kept our price list afloat, which otherwise would have closed worse. Ferrari finished 3.4% higher and was the best of the 40 largest-cap stocks. Prices reached 236 euros, setting a new all-time record. Our analysts focused on the title in the article: “In Piazza Affari it rains money on many stocks, is the Christmas rally coming?”.
The Prysmian stock also shot up along with Ferrari. The stock gained 2.7% and closed at € 35.05, a new all-time high.
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