An unexpected scenario is taking shape on the financial markets just 3 days ago. In three sessions there was a real reversal of the front that brought the markets from fear to euphoria. The factors that were a brake on Friday have now become a sling. Enthusiasm is skyrocketing in Milan too. The stocks that 4 days ago were sold with full hands, today were inundated with buy orders.
Euphoria is rampant in Piazza Affari and prices are driven above all by these titles
From fear to euphoria, but what is happening to the stock exchanges? The two negative news that spliced the markets on Monday turned into positive news today. Evergrande, the second largest real estate company in China, has come close to collapse. The intervention of the Chinese government prevented the bankruptcy and this calmed the markets.
But Jerome Powell unleashed the real wave of enthusiasm on the stock exchanges. Yesterday the president of the FED, after the press conference following the FOMC meeting, sent a reassuring message to the financial markets. Powell announced that tapering will begin in November as the growth of the US economy no longer needs support. These words reassured financial operators and pushed European stock markets higher in the morning and Wall Street in the afternoon.
At the end of the session, the European squares were all up. The Eurostoxx 50 index gained 1%, the Frankfurt stock exchange almost 0.9%, Paris gained 1%. Only London, among the main stock exchanges, closed in negative, with a loss of less than 0.1%. Around 7 pm in Europe the Wall Street indices were all traveling with a gain of more than one and a half percent.
Bank stocks push the list
Piazza Affari was once again among the best stock exchanges in Europe. The Ftse Mib index (INDEX: FTSEMIB) at the end of the session closed with a gain of 1.4% at 26,081 points. The protagonists of the session were the securities of a fundamental sector for the fate of the Milan Stock Exchange. Today the Italian list was the best in Europe thanks to the sharp rise in bank stocks. In Piazza Affari, euphoria is rampant and prices are driven above all by these titles that have made the difference in recent sessions. Unicredit was the best blue chip stock with a 3.3% rise. The second-most performing large-cap stock today was Banca Mediolanum, which gained 3.2%. Banco BPM also did very well, with an increase of 2.5%. Intesa Sanpaolo rose by 2.3%. BPER Banca, on the other hand, has to be satisfied with an increase of 1.4%.
Once again it is shown that this sector is a judge and alone can decide the success of the stock market.
The point about the markets
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