Sometimes there are stock market sessions where prices struggle to find direction. This is because traders don’t have a clear idea of where the market is going and so they wait. The poor directionality of prices is a phenomenon typical of days with low volumes, such as the current one. August is a holiday month in the Western world and many of the professional investors shut down their PCs and go out of business.
Today on the Milan stock exchange was a typical day with low volumes and low directionality. But if the major index has moved little, there was no lack of interesting ideas. Today we see sluggish activity in Piazza Affari but a hail of purchases has invested this title, Stellantis, which recorded a decisive rise. Also worth mentioning is a sector that seems to be awakening, the banking sector, with Banco BPM and Fineco among the best stocks in the Ftse Mib.
Sluggish activity in Piazza Affari but a hail of purchases has invested this title
The Milan stock exchange once again fails to take advantage of the good stock market setting. The Ftse Mib (INDEX: FTSEMIB) closed the session with a modest rise of 0.5% to 25,490 points. The German stock market rose by about 0.9%, returning to all-time highs. While Paris and London were satisfied with a rise of 0.3% even if they too with prices close to the historical record.
On the main basket there were confirmations and returns of interest. The confirmations come from Stellantis. The title comes from two consecutive sessions in strong rise. An avalanche of stock purchases rewarded the company’s positive quarterly accounts. The stock is also popular abroad and professional investors bet on it and put it in their portfolios. Today the stock closed at € 17.44, a breath away from the historical record set in June.
But two banks did better than Stellantis, Finecobank and Banco BPM, up 3.3% and 2.3% respectively. They could be the first signs of awakening of a sector that has been suffering for too long, even if Unicredit, Intesa Sanpaolo and BPER Banca closed with reduced increases.
The point about the markets
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