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Between the January rally and the exploits of Piazza Affari

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Between the January rally and the exploits of Piazza Affari

Business Square best of government bonds in the last decade and among the stars of the list, the winners are the titoli export oriented while among the financial ones they stand out Bank generals e Unipol. These are some of the interesting ideas that emerged from an analysis carried out by Generali on the financial markets.

Let’s start from the beginning of the year extremely positive. The price drops gassigns of inflation subside and immediately i markets they run for cover with best rally since 2009. Looking at what happened in these first weeks of 2023, it seems like a totally different film from the dramatic declines of 2022. In fact, in January, Piazza Affari gained about 11% and at the same time the enthusiasm about a potential slowdown in high prices has Government bonds have also been brought back into vogue, with the BTP rising by about 8% this month. This is highlighted by an analysis carried out by Banca Generali.

Invest by learning from the past

However, many prefer to stay at the window in front of one volatility which shows no signs of slowing down and which last year had cost a drop of 20% about for actions he was born in 16% for the world of obligations. As never happened in the history of the markets. But at this point the question that circulates the most among savers is whether or not it is appropriate to return to betting on the markets and if so, better on shares or bonds? History helps us to interpret investors’ moves and, numbers in hand, the pendulum swings in the direction of equity.

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In fact, looking back at the last 10 yearsto the performance of the 10-year BTP, and to the indices of Piazza Affari a uplifting comparison. On the one hand, our government bond has in fact gained 40%, with a volatility that is also quite significant considering the different historical moments and the attention from time to time on the country; on the other, Piazza Affari doubled its value with the index of the Italian Stock Exchange which between 2012 and the end of 2022 gained 101%, including the contribution of reinvested dividends to the revaluation of prices and therefore the figure total-returnwith peaks of 180% for mid-caps which are once again protagonists on international markets due to their propensity to export.

The hottest stocks of Borsa Italiana

Inside the list indeed some emerge excellences interesting that underlie long-term trends of competitiveness of the country. In fact, leading the rises in the last decade we find companies such as Interpump (710%) e Amplifier (691%) which have catalysed the leadership achieved on international markets in the respective market niches of industrial pumps and hearing aids that make them true champions of “made in Italy”. On the third step of the podium, the boom in demand for semiconductors has not left us behind Stm who earned the 690% followed by two companies appreciated by investors such as Recordati in drugs for rare diseases and Erg of the Garrone family which in recent years has refocused on renewables, abandoning the old refining business.

In the top-10 of the satisfactions of Business Square also appear a couple of financial with Unipol of Cimbri in insurance (+385%) after the acquisition of Fondiaria and the subsequent integration and stands out among the banks General Bank (284%), led by the CEO Gian Maria Mossawhich has surpassed all rivals by aiming for a transparent and sustainable business model based on the quality of its solutions and its bankers in advisory, charting a unique growth in the private banking. The other side of the coin sees Saipem and Telecom bringing up the rear who have suffered from the reorganization dynamics and growing competition in the sector.

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In conclusion, despite the moods of the markets and the impact of events as heavy as those registered in the 2022, investor confidence in the financial markets comes out on top in the long-term comparison, with stocks winning the much acclaimed derby against bonds.

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