New shot for Piazza Affari following the rally in the stock markets of the last few sessions. Overseas, leading the positive sentiment on Wall Street are tech stocks awaiting the quarterly numbers from Microsoft and Alphabet that will provide investors with the first information on the health of the tech sector. Tomorrow it will be Meta’s turn and on Thursday the giants Apple and Amazon. In the meantime, the markets benefited from the positive indications coming from the accounts beyond the expectations of General Motors. Good feedback also from Coca-Cola which reported better than estimated profits and revenues and improved the outlook.
At the end of the day, the Ftse Mib stopped the clock at 22,289.85 points (+ 1.40%) on the new highs of over a month. From a technical point of view, with today’s long day candle, the Italian index moved beyond the medium-term bearish trendline that combines the highs of January and February, which was also confirmed in September of this year. Confirmation tomorrow at the end of the break of the aforementioned trend would give a positive signal to the bullish movement.
Moncler is in the front row today with over + 6.3%, closely followed by Saipem (+ 6.1%) and A2A (+ 5.8%). In general, widespread rally for utilities with + 2.9% for Terna and + 4.5% for Hera. Among the banks, UniCredit (+ 0.1%) will be the first big Italian bank to report the accounts of the 3rd quarter. The release of the accounts of the institute in Piazza Gae Aulenti is expected tomorrow before the opening of the markets. The consensus forecasts quarterly revenues of 4.51 billion euros and a profit of just over one billion (1.05 billion).
Today in Italy spotlight on the speech in the Chamber of the new premier Giorgia Meloni. The leader of the Brothers of Italy affirmed that the fight against inflation “it is essential to intervene with measures aimed at increasing the disposable income of families”. Meloni, on the other hand, criticized the rate hikes brought by the ECB which could curb bank lending to households and businesses, favoring a downward spiral.