Definitely bad day for Piazza Affari. The Ftse Mib index closed below the threshold of 27 thousand points (-1.62% at 26,939 points) thanks to the fears for the next moves by the Fed after the reconfirmation of Powell, together with the worsening of the fourth wave of contagions in Europe. Investors fear Powell will be more aggressive in dealing with inflation and this could already translate into the decision in mid-December to accelerate the pace of tapering.
Among the individual securities, substantial decreases for assets under management: -3.83% Banca Generali, -3.47% Azimut, -3.33% Finecobank. Ferrari was also very bad (-3.78% to 237 euros) with a substantial sell-off after the records of recent weeks. STM was also among the worst with over -4% in the wake of the weakness of the US tech sector thanks to the fear of a more aggressive Fed on the rate front.
The worst title ever, however, was TIM (-4.72% in the € 0.43 area) with Vivendi, a leading shareholder of the Italian telecommunications company, who judges Kkr’s offer to be “not enough” to take over the group as “not reflects the real value of the company “.
Among the few stocks to dodge sales was also ENI (+ 0.42%) thanks to the rise in oil. Nexi also did well with + 1.52% and Unicredit (+ 0.62%).