On the eve of the total reopening of June 3, Piazza Affari returns to the levels of March 9. In fact, canceling – at least in terms of index prices – almost three months of lockdown. Despite the negative closing on Friday 29 May (-0.84%), thanks to the previous five consecutive upward sessions, the Ftse Mib index returned to 18,197.56 points, close to the closing on Monday 9 March, the first day total lockdown, at 18,475 points. The 25,477 points of February 19, the maximum of the year, are still far away. But even the 14,894 points of March 12, the worst day in terms of prices after four consecutive collapses, now seem to be behind.
The month of May was certainly positive for the stock exchanges across Europe. The progressive reopening of activities after the freeze of the lockdown and the consequent hope of economic recovery have supported the price lists in recent weeks. Despite the volatility due to the phase of extreme uncertainty, in particular in the last week the push came from the announcement of the 750 billion Recovery Fund proposed by the European Commission. Frankfurt is at the top of May’s recovery with a 6.68% rise, followed by the other main indices, substantially aligned: the Milanese Ftse Mib gained 2.87%, London 2.97% and Paris the 2.7% (overall the Stoxx 600 index rose 3.04%). Obviously, there is no shortage of unknowns for the near future, starting from the US-China clash over Hong Kong and the data, still contrasted from the economy, from the US GDP further revised downwards (to -5% from the previous -4.8%) to the Italian one (with the risk of a collapse of 13%, as reported by the Bank of Italy).