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Piazza Affari’s last session of the year ends disappointingly and 2020 also ends disappointingly. It could have been a memorable year, thinking 10 years at most in February. Then came Covid 19 and the Milanese list got to its knees.
Here is the analysis of the day in the analysis of the Office of Studies of ProiezionidiBorsa, characterized by a very limited lateral movement. Prices have moved in a narrow rectangle, the figure that has frozen the prices of the Milan Stock Exchange, in today’s session.
The figure that immobilized the prices of the Milan Stock Exchange
For Piazza Affari sic transit gloria 2020. The purists of the Latin language do not want it if we have borrowed a famous Latin phrase: sic transit gloria mundi. In Italian it is literally translated: thus passes the glory of the world, which means the transience of human things. And in this case, the Milan Stock Exchange.
2020 started with a maximum of 10 years. It ended with a disappointing series of sessions. Piazza Affari closes the last session of the year without infamy and without praise, replicating yesterday and Monday.
The Ftse Mib index spent the last week of the year (the stock is closed tomorrow), within a narrow rectangle. The lower side at 22,250 points and the upper side at 22,350 points. This is the figure that has frozen the prices of the Milan Stock Exchange, in today’s session.
Reduction of commercial and real estate prices
It didn’t have the strength to move above the 24,400 mark and make a new 9-month high. But even prices have not been so weak that they have fallen below 22,000 points.
These three sessions experienced reduced trade-offs, as if traders had almost completely lost interest in the Italian market. Who could buy did not buy. Those who could sell preferred to keep their positions, hoping that the Milan Stock Exchange would have a chance. Kidney shooting that wasn’t there.
In Milan a precarious balance has been created that leaves us perplexed. Why in the last two sessions before Christmas did the Milan price list get two decisive increases and then slow down this week?
But the German stock market closes at all-time highs
One possible answer is that the two sessions have been a rebound due to covers taken at the December 21 low. Once the purchases of those who had bet low (short position) were completed, the Milan stock market crashed.
The other European stocks did not shine today or this week either. Today the German Dax closed down 0.3%, the French Cac index down 0.2%, the British Ftse 100 lost 0.7%. The Madrid Ibex lost 0.2% and the Piazza Affari Ftse Mib lost 0.1%, finishing at 22,232 points.
One final note. The German stock market closed the year with an all-time high, on par with Wall Street.
Deepening
This is the pluridiary analysis and the point on international markets of the Department of Studies of ProiezionidiBorsa.
