Negative exchanges, but the FTSEMib limits the red

The major indices of Borsa Italiana and the main European financial centres closed the last session of the week in negative territory, characterized by important technical expiries: futures and option contracts on shares and indices expiring in December 2022. Pierre Veyret – technical analyst at ActivTrades – highlighted that the STOXX-50 index has violated an important support at 3,850 points (Fibonacci 23.6%) and seems to point towards the next one at 3,735 points (38.2%) before the significant level of 3,645 points (50%). “The RSI confirmed the bearish breakout while the DMI – Directional Movement Index – indicator clearly indicates a resurgence of bearish pressure, within a directional movement,” the expert pointed out.

The FTSEMib it suffered a minimal drop of 0.16% to 23,688 points, after fluctuating between a minimum of 23,505 points and a maximum of 23,815 points; for the entire week, the main Borsa Italiana index dropped 2.43%. The FTSE Italia All Share it lost 0.19%. Worst performance for the FTSE Italia Mid Cap (-0.51%) and for the FTSE Italy Star (-1.41%). In the session of 16 December 2022, the value of trades rose to 3.3 billion euros, compared to 2.61 billion on Thursday.

At 17.35 the bitcoins it had slipped below 17,000 dollars (less than 16,000 euros).

The BTP-Bund spread it returned below 215 points, with the yield on the 10-year BTP returning below 4.3%.

L’EUR it fell to $1.06.

Important points among the financial sector stocks.

At the FTSEMib, the excellent performance of Azimut Holding (+6.03% to 20.48 euros). The company and UniCredit (+1.77%) signed a letter of intent which defines the fundamental principles for the distribution in Italy of new asset management products. In particular, Azimut will independently set up and manage a management company in Ireland which will develop investment products to be distributed in Italy through the UniCredit network on a non-exclusive basis. The launch of the funds for Italian clients is scheduled for the second half of 2023.

Strong progress too Intesa Sanpaolo (+3.19% to 2.058 euros). From the communications released by Consob on December 15, 2022, we learn that from December 2 Goldman Sachs is accredited with an aggregate stake in the institute equal to 8.39% of the capital.

Well too BancoBPM (+1.75%) and FinecoBank (+2.47%).

Telecom Italia TIM closed in negative territory. The title lost 1.02% at 0.2031 euros. The telephone company communicated that the board of directors proceeded to co-opt Massimo Sarmi as director, replacing Frank Cadoret who resigned on November 16, 2022.

At the FTSEMib the slip of DiaSorin (-3.68%).

Fincantieri recorded an increase of 1.53% to 0.532 euros. The company’s management has examined and approved the business plan for the period 2023-2027.

At Euronext Growth Milan focus on Plants, on the day of its debut in the price list dedicated to dynamic and competitive SMEs. The title achieved a leap of 45.8% to 1.75 euros. The company’s shares were placed at €1.2, with an initial capitalization of €8.95 million.

Highlights too Saccheria Franceschetti, after the jump of 53.6% achieved on the day of its debut. The title earned 5.6% at 2.0275 euros.