The crazy session of Piazza Affari where first the money returns and then the sales are unleashed.
The schizophrenia that hit the European stock exchanges in the last few sessions, today reached its maximum. The European stock exchanges opened the session with a marked rise, but in the afternoon there was a reversal of the opposite. So from a 1% gain at the start, it has gone down to a 1.5% drop. For a very specific reason. This is how the crazy session of Piazza Affari went, where first the money returns and then the sales are unleashed. Below is the analysis of the day of the ProiezionidiBorsa Studies Office.
Schizophrenic bags, first rise and then fall
Piazza Affari slavishly followed the fluctuating trend of the Old Continent stock exchanges. The Ftse Mib index (INDEX:FTSEMIB), got off to a hot start, earning over 1%. Although mid-morning prices corrected slightly from highs.
Then, in the afternoon from 3.30 pm, the prices started to fall quickly. At the end of the session, the index closed down by 1.5% to 19,551 points. But prices have dropped to 19,460 points, the target we indicated in the previous article.
What first pushed the stock exchanges up and then sent them down? The fact that prices started to drop after 3pm should help to understand. First the rise in the morning and then the fall in the afternoon have a single common cause: Wall Street.
The crazy session of Piazza Affari where first the money returns and then the sales are unleashed
At the start of the session, the Stock Exchanges of the Old Continent started up, thanks to yet another historical record of the US Stock Exchange. Yesterday the S & P500 gained 1.5% and today the stock exchanges celebrated. But in the afternoon, when it became clear that it was going to be a complicated session for the American stock market, prices in Europe also started to fall.
Tech stocks were the hardest hit. In fact, the Nasdaq after two hours of trading was already losing 4%. It is no coincidence that in Piazza Affari the worst action among the blue chips was that of the most technological company in the basket, Stm.
Deepening
To know the multidays analysis and the point of view of the international markets of the ProiezionidiBorsa Study Office, click who.
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