Piazza Affari has remained afloat thanks to these titles that now promise to run

What happened today on the Milan Stock Exchange can help us understand what can happen in the next sessions. The Milanese price list has experienced a new roller coaster day.

After a strong bullish start, prices started to fall. In the afternoon, the decline accelerated with the opening of the US stock market.

But in the end, prices recovered and limited the damage, thanks to the surge in banking stocks. Piazza Affari has remained afloat thanks to these titles that now promise to continue working.

Day on the roller coaster of the Italian Stock Exchange

Exciting session in Piazza Affari. The Milan Stock Exchange starts off good, then puts it in reverse and starts to go down.

A decline that becomes worrying after 3:00 pm, when Wall Street opens. The Borsa Italiana index breaks support at 23,000 points and falls to 22,800 points.

Fortunately, this second support holds and finally manages to push prices back. At the end of the session, the Milanese price list limits the damage. At the close, the Ftse Mib index (INDEX: FTSEMIB) closed lower, but only by 0.16%. But what matters most is the close above the symbolic threshold of 23,000 points, at 23,046 points.

The interesting ideas of the session

There are two interesting points from this session, one negative and one positive.

Let’s start with the negative. The Italian stock market was the only one to close negative. The rest of the European places finished in positive territory, albeit slightly.

The positive aspect concerns the bankers. Shares of major listed credit institutions posted the biggest gains among the top stocks of the day. Unicredit was the best with a gain of 2.5%, finishing above the resistance of 9 euros. Intesa closed with a gain of 2.2% at € 2.2. Banco BPM gained 1.9%.

Pay attention to the return of interest in banks.

Piazza Affari has remained afloat thanks to these titles that now promise to continue working. And they also promise to run the Milan Stock Exchange.

In fact, several times we have indicated in these columns how a bullish phase in our price list must necessarily coincide with a collective rise in bank stocks. Today suggests that this rally has probably started and that international investors are starting to buy shares in our banks.

Deepening

This is the multi-day analysis and the point of view of the international markets of the Research Department of ProiezionidiBorsa.