The stock market session in Europe ends little move. And the day ends in a tie in Piazza Affari. For the Milan stock exchange it was a session from which we could draw positive ideas. Let’s see which ones.
The match of the Ftse Mib ends in a substantial draw
Let’s start with the data. The German Dax index remained practically unchanged. The London Stock Exchange Index lost 0.3% as did the Paris Index. The Ftse Mib index (INDEX-FTSEMIB) closed at 20,019 points, down 0.3%. For the Milan stock exchange we can consider it a substantial draw. In fact, if the index lost 0.3%, it nevertheless ended above 20 thousand points. It was not obvious.
One of the positive ideas that we can get from this day is related to the price trend compared to the 20,000 points threshold. It was not a bright day for the blue chip index. Prices dropped practically throughout the session, even moderately. But when they dropped below 20,000 points, they had the strength to react and go back above the key threshold.
Wall Street keeps the European stock exchanges afloat
The other positive starting point is derived from the performance of the US stock exchange. In fact, the positive start of Wall Street certainly contributed to promoting price stability. As the Exchange Projection Studies Office pointed out in a previous analysis, the performance of the American stock exchange would have been decisive for the European stock exchanges. And so it was. Today, when the US indices opened the upside, Piazza Affari reversed direction. Prices, which have been decreasing up to that point, have returned to above 20 thousand points.
With no more cash prize, the UBI stock plunges.
Among the falls today is the 8% drop in UBI Banca, which we talked about in this article. The drop is due to the fact that the Public Purchase and Exchange Transaction ends tomorrow, and the shares of UBI have lost interest. In fact, they cease to incorporate the implicit premium of 0.57 euro per share that Intesa recognized to those who delivered a UBI security. A value that corresponds to approximately 16% of the value of the share. So without any more cash prize, the UBI stock will sink.