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The calm march of the German stock market continues, while the other stock exchanges of the Old Continent are struggling. A greater volume of purchases is being concentrated in the Frankfurt square at the expense of other European exchanges.
The most plausible reason is that investors expect a strong recovery in the German economy next year. This is the European economy that will function in 2021 and a river of money is flowing into its stock market.
The German stock exchange runs and separates the other European squares
Who will benefit the most from the arrival of the vaccine? And what will be the European economy that will grow the most next year? The answer to both questions is Germany. Markets believe so and move accordingly.
For a few days, on the German Stock Exchange, purchases have been concentrated to the detriment of the rest of European markets. Even today, Frankfurt rose 0.9%, Paris was unchanged, Madrid rose 0.2%, the Dutch stock market 0.4%.
Piazza Affari closed in line with the other stock exchanges. The Ftse Mib index ended 0.1% higher at 22,012 points.
Traders seem to have found the European horse to bet on, the German. It does not matter if Germany will activate a complete lockdown at Christmas. In January vaccination will begin and soon the Teutonic economy will begin to grind again. Faster and stronger than the other economies of the Old Continent.
The markets are convinced that this is the European economy that will work in 2021 and a river of money is flowing into its stock market.
Disappointing session for the Milan Stock Exchange
For the Milan Stock Exchange it was a disappointing session. The only positive point is the closing of the Ftse Mib index (INDEX: FTSEMIB), above 22 thousand points. But today more of a timid increase was expected. Once again, the Milan price list got off to a good start but, in the second part of the day, prices fell. A script that is repeated from several sessions.
The uncertain performance of the banking sector is also a recurring scenario. Unicredit sold 0.4%. The stock cannot recover the threshold of 8 euros. Intesa has remained unchanged and struggles to exceed 2 euros. BPER Banca gains 0.5%, Mediobanca sells 1.1%. Banco BPM fared better, gaining 0.9%.
But without the benches, Piazza Affari is destined to float.
Deepening
This is the multi-day analysis and the point on international markets from the ProiezionidiBorsa Research Department.
