The Milan Stock Exchange put the turbo and took off, pushed by the banks.
Fly Piazza Affari dragged by bank stocks. And we at ProiezionidiBorsa had been easy prophets, anticipating the scenario in a previous article, in which we signaled attention to banking actions. And this is exactly what happened today. At the start of trading, the Milan Stock Exchange put the turbo and took off, pushed by the banks. Let’s see what happened today on the Milanese list.
The Milan Stock Exchange put the turbo and took off, pushed by the banks
It was an almost euphoric session in Piazza Affari, with the Ftse Mib index (INDEX-FTSEMIB), shot up immediately at the start. Among other things, the start of momentum opened a price gap that was not filled in the session. An aspect that should not be underestimated for the next sessions, starting from tomorrow’s. But let’s focus on what happened today.
Prices opened above 19,800 points and with unexpected strength headed towards the 20,000 point mark, exceeding it with momentum. After less than two hours of trading, the Ftse Mib index was already at 20,200 points and hasn’t moved from there. In fact, it closed at 20,209 points, up 2.8%. In perfect agreement with the rest of the stock exchanges of the Old Continent which all finished with gains close to the Milanese list.
Banking stocks in the limelight
The absolute stars of the session were bank stocks. Several times from these columns we have reiterated how the banking sector was the pivot of our stock market. We have reiterated several times that no price increase in Piazza Affari would be possible without the return of purchases on bank securities. Well, purchases on bank shares are back and plentiful.
Banco BPM was the star of the day, with a rise of 6.9%, driven by rumors about banking risk. Rumors that also involved Mediobanca, which gained 5.9%. Unicredit did well, rising above 8 euros, gaining 4.8%. Intesa has to settle for an increase of 2.6%.
One final note. The exchanges today in Piazza Affari were lower than those of yesterday and less than half of those on Friday. And this accentuates the volatility of prices, upwards, but also downwards.
To learn more, read who the article in which we signaled attention to bank stocks.
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