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The trading week ended yesterday ended with a positive session for the European equity markets.
The Ftse100 and Dax30 moved hand in hand, climbing 1.01% and 1%, preceded by the Cac40 which gained 1.35%.
Ftse Mib in strong comeback after the lunge
Similar to the latter is the percentage change in Piazza Affari, where the Ftse Mib ended trading at 25,124 points, with an increase of 1.29%, after reaching a maximum of 25,159 and a minimum of 24,912 points in the intraday. .
The weekly balance was also positive as the index of blue chips in the last five sessions recorded a progress of 1.34% compared to the close of the previous Friday.
The eighth opened with a heavy sell-off that pushed the Ftse Mib to the 23,800 area test, from which a powerful recovery started.
After returning above 24,000 points, the index immediately lengthened its pace towards the 24,700 area, and then pushed to the 25,000 area test, with subsequent violation of the same and extension of the rebound up to 24,150 points at the end of the week.
Ftse Mib: a sign of recovery that opens up to optimism
The excellent reaction from last Monday’s lows is undoubtedly an encouraging sign, supported by a weekly close not only on intraday highs but of the entire octave.
From a technical point of view, the reconquest of area 25,000, if confirmed at the start of next week, is a signal that calls for new buys.
The next upside target for the Ftse Mib is very close, in the area of 25,200 / 25,250, with a subsequent step at 25,450 / 25,500 points.
A victory of this obstacle too will see the index extend the climb towards 25,700 points, an intermediate level before reaching the highs of the year marked just under 26,000 points.
Ftse Mib: the key levels to monitor downwards
As mentioned before, the stability of 25,000 points will be important in the short term, given that a drop below this threshold could weaken the Ftse Mib again.
In this case, the support of 24,500 points will have to be monitored, below which the descent will continue towards 24,200 and 24,000 points, before a landing on last Monday’s lows in the 23,800 area.
The possible breakdown of this support will represent a bearish call that is also dangerous, with the risk of a slide in the Ftse Mib up to area 22,500 first and 22,000 thereafter.
US macro and corporate data
For the first session of next week, on the US macro front there is only one update and it is the sales of new homes which in June should rise from 769 thousand to 800 thousand units.
On the corporate side, Lockhed Martin’s results for the last three months should be followed before the opening of Wall Street with an eps expected at $ 6.53.
With closed markets, Tesla’s accounts will be looked at, which in order not to disappoint the estimates will have to report an earnings per share of 0.98 dollars.
Macro updates and events in Europe
In Europe, the focus will be on Germany where the IFO index is expected to rise slightly from 101.8 to 102 points in July.
Also in Germany to follow the auction of government bonds maturing in July 2022 for a maximum amount of 4 billion euros.
The securities to be monitored on Piazza Affari
In Piazza Affari there was the detachment of the dividend of GPI in the amount of 0.5 euro per share.
The results of the first half will be presented by Caltagirone Editore, CIR, GPI, CasaSold, ElEs and Esautomotion.
It should be noted that on Monday 26 July the totalitarian voluntary offer of Marbles on Retelit kicks off and ends on 10 September.
Trend-online Deputy Director, born in 1978.
After completing his studies at the Classical High School “Antonio Calamo” of Ostuni I entered the world of economics.
For about twenty years I have been dealing with Stock Exchange and Finance. After having worked as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, to later become deputy director of the cylinder head. Among other countless activities, I take care of maintaining relationships with all the experts, analysts and traders, consulted daily by Trend-online.
My motto is? “Life is like a mirror, if you look at it smiling it will smile at you”.