The government falls, fashion goes public

The government falls, fashion goes public

24 hours after the announcement of the resignation, the Ftse Mib index ended the session improving by 1.77%. Upward trend also for Milanese luxury stocks, with Moncler leading with + 3.2%, Aeffe up 2.79% and Brunello Cucinelli 2.49%

 

In the aftermath of the resignation of Prime Minister Giuseppe Conte, Piazza Affari closes a positive day with a good rise on the euro lists. After the initial slowdown recorded yesterday evening following the announcement, the Milan Stock Exchange has gained ground since the first hours of trading this morning, ending the session on the day’s highs with a gain of 1.77% of the FTSE Eb. Along the same lines, the Ftse Italia All-Share has closed the day up by 1.63%. The Ftse Italia Mid Cap indices (+ 1.32%) and the Ftse Italia Star (+ 1.1%) were also positive.

Among the main Eurozone listings, whose yesterday’s uncertainty in the Italian political situation had a negative impact, Frankfurt stand out, having finished today’s day up 1.30% at 11,802.85, London, with a large progress of 1.01% to 7,197.00, and Paris, which advanced by 1.7% to 5,435.48.

Generally positive performances were also recorded by the Italian retail and luxury stocks, starting from Moncler, up by 3.2% to 35.46 euros. The shares of the Aeffe group, headed by Alberta Ferretti, Moschino, Philosophy di Lorenzo Serafini, Pollini, Jeremy Scott and Cédric Charlier, recorded an increase of 2.79% to 1.55 euros, while Brunello Cucinelli rose of 2.49% to 29.60 euros.

Resumption of 1.88% to 8.15 euros also for the title of the childrenswear company Monnalisa, listed since last July, and 1.78% to 0.97 euros for Safilo. Salvatore Ferragamo ended at + 1.18% at € 17.96 followed by Geox, a slight improvement of 0.98% to € 1.23 per share. The strongest sales, on the other hand, showed up on Tod’s which, after the surge that exceeded 8% on Tuesday, ended the day down by 5.43% to 48.56 euros. Finally, Ovs also fell, closing at -2.2%, stopping at € 1.56 per share.

Conte’s resignation was positively perceived by the markets also because they open the prospect of a new administration and mark the end of the coalition between the Five Star Movement and the Northern League, which at the time of the rise to power 14 months ago had been received with skepticism .