MILANO – The Covid effect made itself felt in bag with a 10.1% decline in capitalization and a ratio of capitalization to GDP down by 32% compared to 33.1% at the end of 2019 for the companies present in Piazza Affari The data comes from the latest Statistical Bulletin of Consob, which reports the data on the groups present on the Milan Stock Exchange and on financial intermediation at the end of 2020. On the other hand, the volume of trading in shares (+ 23.5%) and equity derivatives (+ 8.8%) grew in the same period ) and Italian government bonds, which increased by as much as 71.8%.
The delistings empty Piazza Affari for the relaunch, new rules are needed
by Vittoria Puledda
The recovery in the second half of the year allowed listed companies to close the 2020 financial statements with an overall decline in net profits, but without recording negative results, adds Consob in its Statistical Bulletin. As for the aggregates by sector, insurance companies recorded net profits of 3 billion euros compared to 4.1 billion of the previous year, non-financial companies listed on the MTA for around 10.7 billion euros and an increase in liabilities for around 42 billion, the banks report an overall profitability of 1 billion euros. The industrial companies listed on the AIM recorded profits of 102.2 million euro.
The King Midas effect of the listing transforms capital into money
by Andrea Resti
Investors’ preference for liquid assets continues, but the flight to government bonds recorded in the first part of the year falls. The value of financial instruments held with Italian intermediaries for investment and asset management services increased (+ 2.6%), but less than the growth in deposits. In the equity portfolio of professional customers, the weight of foreign securities is growing at the expense of Italian ones. Retail customers maintain their investment in Italian government bonds stable compared to 2019. Finally, the bulletin records a 22.7% reduction in bond issues by Italian banks (compared to 2019), mainly due to public offers on the domestic market (-33.1%), concludes the Consob Bulletin.
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