Start of session in sharp decline for Piazza Affari on the first day of the week. In the early stages of the session, the Ftse Mib index dropped 3.05%, falling to 18,320 points. Uncertainty weighs on the data of the pandemic in the United States and fears about new infections in Asia. The first macroeconomic data of May also affect the Chinese market, which mark a recovery but lower than analysts’ expectations.
Here, the trend of the share prices and the stock market prices of the main financial markets.
Down the banks, Recordati holds better
All the main basket of Borsa Italiana in red. Industry (Cnh -4.21%, Leonardo -2.96%) and banking stocks suffer mainly, with the large IntesaSanpaolo (for which a decisive week opens on the Ubi operation front) and Unicredit, down by about 3%. The title that contains the most damage is the pharmaceutical Recordati (-0.74%), while energy and luxury are doing poorly.
The other European stock exchanges
The same fate happened to the other European lists and the bad day had been announced by futures (derivative contracts) and by the sharp drop in the Asian squares. A heavy opening was therefore seen for the main European stock exchanges. Paris yields 2.53% to 4,716 points, Frankfurt 2.41% to 11,661 points and Madrid 2.64% to 7,100 points. London is slightly more cautious (-2.14% at 5,975 points).
Finished the rally?
Analysts wonder whether the recovery phase, by someone judged to be too lively, has brought the Wall Street back to almost the same level as the period before the emergency, while the recovery of Piazza Affari was in any case less conspicuous than others.