These figures weighed on the stock market today. Here’s why and what happened on the stock markets. Piazza Affari and the European stock exchanges end the last session of the week with a slight decline, with fractional losses. But it could have ended much worse. To mark the trend of this day were some data related to the EU and US economy. Data that well illustrate the divergent trend of the stock markets of the United States and the Old Continent.
These figures weighed on the stock market today. Here’s why and what happened on the stock markets. Below is the analysis of the day of the ProiezionidiBorsa experts.
These figures weighed on the stock market today. Here’s why and what happened on the stock markets
The last session of the week began in a minor tone for the main European stock indices and for the Piazza Affari one. The stock exchanges started lazily, between thin exchanges and low volumes. Until mid-morning, when the data of the PMI manufacturing index in the EU, the composite index and the purchasing managers of the services sector were released. All below expectations.
It didn’t take long to trigger a series of sales, probably in the open. In Piazza Affari the industrial sector and the usual banking stocks were hit. It was Wall Street that bailed out the European stock exchanges and made them rise in the last two hours. The US indices opened higher thanks to the PMI manufacturing and purchasing managers data, which were higher than expected. Data that allowed the S & P500 index to reappear in a historic record area and the European stock exchanges to close with minimal losses.
Piazza Affari closes the gap as a stock soars by 21%
The Ftse Mib index (INDEX-FTSEMIB), ended the session down 0.3% to 19,695 points. But in the low moment of the session, the prices came to drop by more than one and a half percentage points. The decline allowed prices to close the gap that had been left open in the session of 11 August. This is perhaps the most positive result of the day.
Among the shares, the incredible performance of Fullsix, which gained over 20%, should be noted. The stock seems to be showing signs of recovery after a long decline. Prices from the maximum of 3.2 euros at the beginning of 2017, fell to the minimum of 0.45 euros in mid-March. There has been a long lateral movement since then. Until today’s session which saw Fullsix close at € 0.82 and achieve the maximum of the last 3 months.
Exceeding € 0.85 next week will push prices up to the psychological target of € 1. On the contrary, prices are seen negatively falling below 0.75 euros.
To know the multidays analysis and the point of view of the international markets of the ProiezionidiBorsa Study Office, click who.