European equity markets are struggling
It was yet another difficult day in Piazza Affari, but also in other European squares. The Frankfurt Stock Exchange has lost 0.5%. The Paris Stock Exchange 0.2% and just under 0.2% lost Madrid. The stock markets of the Old Continent seem paralyzed, almost afraid. Certainly in trouble.
The spike in contagion in the USA is frightening. Uncertainties about the economic recovery are holding back investors. In Europe there is the further unknown of the approval of the Recovery Fund. If it passes it would make a cascade of billions available to the most affected economies in Europe. Among these there is also our price list, which for a couple of weeks has seemed motionless. The prices of the Ftse Mib index (INDEX-FTSEMIB) are flattened within the range between 19 thousand and 20 thousand points, and from there they cannot get out.
Milan Stock Exchange on a rollercoaster: we just have to do this
What happened today is emblematic. The blue chip index opened slightly higher than yesterday’s close. But after two hours of absolute immobility just above parity, prices have taken the downward path decisively. Around 11.30 they started to drop decisively until they reached the threshold of 19 thousand points. And here the support has done its duty very well. Twice the prices tried to break down and twice the attempt was rejected.
Shortly after 2.00 pm the index returned to recover recovering all the losses of the morning and for a half hour also going positive. At the end of the session, prices closed at 19,291 points, down 0.4%
The situation is uncertain and all that remains is to wait for prices to finally take a road with decision: either above 20 thousand or below 19 thousand. With the Milan Stock Exchange on a roller coaster, we just have to do this