The Ftse Mib today swept the area of 25,000 and then slowed down a bit. What to expect for the next sessions?
Equity markets, not only Piazza Affari, continue to show excellent intonation, even though the latest macro data have been rather negative.
In Germany, industrial production slowed also due to the coronavirus and the same figure was even worse in Italy, with a disappointing update also arrived from the United States this afternoon.
Some estimates indicate that coronavirus will weigh around 0.3% -0.4% of global GDP this year and news has been released today about the negative impacts that the Chinese virus is having on the auto sector.
What cannot be explained is why stock indices continue to rise despite an unfavorable environment at the moment.
Today’s session, both in Europe and on Wall Street, is not showing noteworthy movements by the main indices.
It cannot be excluded that from Monday the stock markets will start to rise again and at that point in Piazza Affari the Ftse Mib will immediately put pressure on the 25,000 / 25,200 area.
Above this threshold the index will move forward towards 25.500 / 25.600 points in the short term.
In case of weakness, the Ftse Mib could drop to 24.560 / 24.550, below which it could drop back to 24.000, where it will meet a fairly solid support.