The European stock markets ended the week with moderate but significant gains. Just like yesterday, including today, the Milan list was one of the best. The Milan Stock Exchange seems to have found its way back.
Piazza Affari has reached a crucial threshold and now a new important scenario is opening up. Let’s analyze the important elements of today’s session thanks to the Bag Projections Experts.
For the blue chip index, 22,200 is a threshold to monitor
The last session of the week at Piazza Affari ends uphill. The Italian stock market today paved the way for another leap. At the end of the session, the blue chip index, the Ftse Mib (INDEX: FTSEMIB), closed 0.8% up to 22,178 points.
As we expected in the article preceding the opening of the stock markets, the prices of the main index have reached the threshold of 22,200 points. Piazza Affari has reached a crucial threshold and now a new important scenario is opening up.
It was a positive session, beyond the result. Both because it arrives on the last day of the week, generally not conducive to purchases. Both because even today the Milan stock exchange is confirmed, if not the best in Europe, but among the best. Only the London Stock Exchange, which is still running bullish sessions, and Madrid’s fared better.
The energy on the launch pad is ready to go
Banks and especially the energy sector were in favor of the sprint of the Milan list. The banks have gained some ground. In particular Unicredit that won 1.3% and returned above the threshold of 8 euros.
But it is the energy sector that has taken off. Tenaris was up 4%, Eni up 3.4% and Saipem up 3.1%. These were the top three blue chip stocks, along with Leonardo, who won 3.3%.
Tenaris has been in a bullish sprint since November. In a month, prices have risen more than 80% and today they are just one step away from the 7 euro threshold. They are close to the high of June, but still a long way from the highs of the year around 10.5 euros, reached in early 2020.
Next week, the violation of the 7 euro will bring the action to the first target of 7.3 euro. On the other hand, only returns below € 6.38 are judged negative.
Floor
This is the multiple analysis and point on the international markets of the ProiezionidiBorsa Research Department.
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