[ad_1]
Below is the interview with Angelo Ciavarella, Director of Global Markets at Infinox Capital and Adjunct Professor of Theory and Practice of Financial Markets at the University of Greenwich, who we asked some questions about the Ftse Mib index and about some potato chips .
The Ftse Mib continues to fluctuate around the 22,000 area after the run in November and awaiting the ECB tomorrow. What to expect from current levels in Piazza Affari?
As you recalled, November was the best month ever in percentage terms for Ftse Mib, but it was also accompanied by the best performance of the last 30 years for the Dow Jones on Wall Street.
November was the month we went from simply buying technology to high-value stocks, such as those in the energy, financial, retail and real estate sectors.
The Ftse Mib, which has almost exclusively energy and finance related stocks, has recovered very well.
After a rise like that of November, a consolidation phase usually develops, which is what we are witnessing now.
Since the beginning of the month, the Ftse Eib has moved very little and from today’s high of 22,300 / 22,400 it has tried to return to the previous high, only to retreat slightly.
In any event, the index setup remains very positive and any decline, even below the 21,800 zone, with projections at 21,200 / 21,000 points, will offer buying opportunities.
Soon there should be the approval of the Recovery Fund, which should also give a new impetus to Italy and therefore to the securities listed on the Ftse Mib, in particular to the banks.
The index in the first months of the new year could be pressured to close the gap by 23,200 points, with subsequent rises to 23,800 / 24,000 points.
I am quite positive and I believe that any correction, almost desirable, considering the violence of the rise, would be bought without problems.
Bper Banca and Unicredit drew attention today after rumors related to a possible merger. What can you tell us about these two bankers?
Unicredit is a little closer to everyone now: first to Banca Monte Paschi now to Bper Banca.
The Piazza Gae Aulenti group could come to the latter’s rescue following the cut of the French CEO who actually did very well for Unicredit.
A bit of Italian flair is back with some arrogance and now it will be important to see what the new coaches will do.
The impression is that Unicredit needs more prey in order to grow more organically.
The stock hit a significant 9.3 / 9 euro zone high from which a decline began and now current levels look good to me for opening new longs on Unicredit.
A purchase of the stock can now be evaluated with a stop loss below 7.5 euros and the first target at 9.3 euros, with a subsequent target of 9.8 / 10 euros.
Bper Banca has recovered very well from the all-time low of around 1 euro, but continues to lose 50% since the beginning of the year.
Rumors of a merger with Unicredit could give Bper Banca a new boost and perhaps send the stock back to 1.7 euros first and 2 euros later.
Negativity only in case of breach of a previous minimum of 1.35 / 1.3 euro.
STM today collapses after revenue targets. What do you think of this title that has remained among the best since the beginning of the year?
STM is going through a difficult day today, partly because of the news of the one-year postponement of the revenue goal of $ 12 billion, partly because of the fact that it had run so long.
The title is one of the few technologies present in Piazza Affari and it is the one that has worked best as a result of what happened with the Nasdaq Composite.
STM has more than doubled from the March lows, so today’s decline also appears physiological.
It will be important now that the title defends € 29 / 28.5 so as not to see more declines.
Below 28.5 euros at the end, STM could go to touch up the 27 / 26.8 euros and 25 euros later.
It would not be so negative on stocks that in the 29 / 28.5 area it would evaluate a buy.
FCA today has gone a short distance from 14 euros. Can the current increase continue?
The industrial sector is one of those strongly favored by the situation after the US elections with the announcement by Pfizer of the coronavirus vaccine.
FCA broke the highs of the year and above 13 euros has tested positive since the beginning of 2020.
The stock would have room to rise to 14.5 / 14.6 euros where it could find some consolidation.
The risk-return ratio is no longer as favorable as before and a possible return from FCA in the 13.2 / 13 euro zone will not be excluded and will offer a buying opportunity with a target of 14.5 / 14.6 euro.
ENI moved positively today despite falling oil. Is it too late to buy now?
Oil has recovered quite well and the energy sector, after being one of the worst battered in 2020, is showing signs of waking up.
ENI has given birth to a crazy recovery, rising 37% in the last month, although since the beginning of the year it has lost 35%.
In the area of 9 euros, the stock could meet some resistance, but if it managed to break this threshold it would target 9.5 / 9.6 euros.
Possible declines in ENI to 8.5 / 8.3 euros will offer opportunities to go long with the first target at 9.5 / 9.6 euros first and 10.2 / 10.5 euros later.
