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by Fabrizio Patti
Milan 24 September 2020 The Milan stock exchange has changed direction.
At the opening it dropped by over 1 percent.
Now it marks + 0.8%.
In the rest of Europe, the trend was mixed.
London still falls slightly (-0.28%), on Frankfurt (+ 0.27%), Paris flat.
Some positive macroeconomic data arrived today.
Standard & Poors updated the forecasts on the Italian GDP, which is improving.
The expected decline is 8.9%, from -9.5% previously estimated.
The rebound expected in 2021 also rises, by about one percentage point, from + 5.3% to + 6.4%.
The Ifo index also rose, which measures the economic situation and expectations in Germany.
It is now just over 93.4 from 92.5 in August.
In particular, expectations have risen.
In Piazza Affari today the best stocks are two banks, Banco Bpm (+ 5.95%) and Unicredit (+ 4.14%), after an article by MF which spoke of contacts between the two banks in view of a possible merger.
But the whole banking sector rises (+ 2.4% the Ftse All Share Bank of Piazza Affari), in this case due to the expectation of the creation of a European bad bank, as anticipated by the Reuters agency.
The markets come from the descent of Wall Street.
The biggest drop was the -3% of the Nasdaq, the list of technology stocks, led by -6% of Tesla.