Share

by Fabrizio Patti June 2, 2020Today the Milan stock exchange is open, for the Republic Day, however, trading on closed markets will not take place.

The Ftse Mib accelerates compared to the opening: + 2.2%, eighth session up in the last ten. Since the beginning of the year the drop is 19.6%. Compared to the lows of March 12, the rise was 27%.
Other squares include: London + 1.13%, Paris + 2.1%. The increases in Frankfurt were higher (+ 3.9%), which was closed yesterday for the Pentecost holiday. 

At Piazza Affari Eni stands out, + 5%, a share driven by both press rumors about the corporate reorganization and the rise in the price of oil. The North Sea Brent is approaching 40 dollars a barrel (39.25, + 2.4%): the value has doubled compared to the lows of April. According to Bloomberg, OPEC extended to Russia could decide to extend production cuts beyond the June date. The meeting between the oil-exporting countries could also be brought forward from 9 June to 4.

Among the other Ftse Mib stocks, today rises more than 4% for Buzzi Unicem, Leonardo, Unipol Gruppo, CNH Industrial NV, Banca Mediolanum. Reductions for Amplifon (-0.7%) and Diasorin (-3%), the title that has had the best performance since the beginning of the year on the Ftse Mib. 

Yesterday was also a positive day in Milan, also thanks to some signs of recovery that came on the manufacturing front in May, with the manufacturing PMI index going from 31 in April to 45 in May. The value is still far below the threshold of 50, which marks the border between growth and contraction.  

Yesterday the rise in Mediobanca led the main list in Milan, after Leonardo Del Vecchio's request to increase to 20% by Delfin. Today the stock rises 3.8%. 

During the night there was still a positive session for the Asian markets: the Shanghai, Tokyo and Seoul indices rose, which have now reduced the drop since the beginning of the year to 5%. Also rise in Hong Kong. Rumors about China's willingness to stop food purchases from the United States under the January agreements between the two countries are having no repercussions.

Yesterday also on the American stock exchanges, especially the tech stocks, despite the growing protests across the United States. The list of tech stocks, the Nasdaq, rose 6% since the beginning of the year. Today the results of the Zoom video conferencing platform are expected, which has already tripled in value since the beginning of February. 

Update at 12.30