Technical Analysis

Italian shares suffer on bridge collapse but other European stocks recover today

Italy’s FTSE MIB fell -1.83%

The European shares recovered in trading today with the exception of the Italian FTSE Mib. It fell by -1.8% on the back of Atlantia stocks tumble. The motorway operator’s shares fell by 25% following the deadly collapse of the motorway bridge in Genoa.  The Italian government said it plans to strip the groups Autostrade unit of its moterway concession and impose heavy fines.

Other countries stocks fared better today:

  • German Dax rose 0.7%
  • France’s CAC rose 0.9%
  • UK FTSE rose 0.9%
  • Spain’s Ibex rose 0.3%
  • Portugal’s PSI20 rose 1.29%

In the European 10 year debt market yields were mixed once again on flows into and out of risk:

In the forex market, the AUD and NZD remain the strongest, while the CHF and JPY are the weakest.  The USD is weaker but mixed. 


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