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The crazy session in Piazza Affari where the money comes back first and then the sales break out.
The schizophrenia that hit the European stock markets in recent sessions, today reached its maximum. The European stock markets opened the session with a marked rise, but in the afternoon there was a reversal in the opposite direction. So from a 1% gain at the beginning, it’s down to a 1.5% drop. For a very specific reason. So was the crazy session in Piazza Affari, where first the money returns and then the sales are unleashed. Below is the analysis of the session of the Office of Studies of ProiezionidiBorsa.
Schizophrenic bags, first they go up and then they fall
Piazza Affari slavishly followed the fluctuating trend of the Old Continent stock markets. The Ftse Mib index (INDEX: FTSEMIB), got off to a good start, earning over 1%. Although the mid-morning prices slightly corrected from the highs.
Then, in the afternoon from 3:30 p.m., prices started to fall rapidly. At the end of the session, the index closed with a fall of 1.5% to 19,551 points. But prices have dropped to 19,460 points, the goal we indicated in the previous article.
What first pushed stocks higher and then lower? The fact that prices started to drop after 3pm should help to understand. First, the morning rise and then the evening fall have only one common cause: Wall Street.
The crazy session of Piazza Affari where first the money comes back and then the sales are unleashed
At the beginning of the session, the Old Continent Stock Exchanges were launched, thanks to a new historical record of the United States Stock Exchange. Yesterday the S & P500 gained 1.5% and today the stock exchanges celebrated. But in the afternoon, when it became clear that it was going to be a difficult session for the US stock market, prices in Europe also began to fall.
Tech stocks were the most affected. In fact, the Nasdaq after two hours of trading was already losing 4%. It is no coincidence that in Piazza Affari the worst action among blue chips was that of the most technological company in the basket, Stm.
Deepening
To know the multi-day analysis and the point of view of the international markets of the Office of Studies ProiezionidiBorsa, click on who.
