Very positive session for the European stock exchanges and especially for Piazza Affari. The Milan stock exchange was once again the best in Europe, probably thanks to the much more interesting prices than the other squares. Banks once again take center stage. But above all, to drag the Milan stock exchange up today was a stock that at these prices is a real bargain. Here is the analysis of the day of the ProiezionidiBorsa Studies Office.
Trump galvanizes Wall Street which pushes European squares
Trump effect on European stock markets, after Wall Street had already closed with a strong rise yesterday. The improved conditions of the President of the United States yesterday did well for the US stock market and today, as a result, they pushed the European stock exchanges. Earnings are not exceptional, all below one percentage point, but in any case increases that generate a more positive climate in Europe.
Piazza Affari also closed higher. The Italian stock exchange was the best, once again, thanks to a revival of banking stocks. The Ftse Mib index (INDEX:FTSEMIB) closed with a gain of 0.8% at 19,429 points. But just before 3.30pm the prices had exceeded the percentage point of gain.
In today’s session for Piazza Affari there are two things to underline. The first. The Ftse Mib closed the gap opened in the session of 21 September with an almost millimeter operation. Possibilities we talked about in the previous article.
The second reflection. Index prices rose all morning and hit a daily high just before the US stock exchange opened. On Wall Street the indices started down and even Piazza Affari (and the rest of the European stock exchanges) corrected.
Today, the Milan stock exchange was dragged upwards by a stock that is a real bargain at these prices
This is a clear signal that at this moment the influence of Wall Street is back to being high towards the squares of the Old Continent. And this influence will likely extend into the presidential election on November 3. Until that date, the European stock exchanges will be driving Wall Street.
On the Italian list, bank stocks have returned to rise. Among the blue chips Banco BPM and Unicredit were the second and third best stocks, with gains of around 5.5%.
The securities are moved by the banking risk. For Banco BPM there is a return of speculation, after the last sessions in which the stock was hit by profit taking. For Unicredit there is a return of interest that is always of a speculative nature, because at these prices the bank stock is a real bargain.
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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