Milan stock market closes in red sitting nervous, jumps Saipem – Reuters Italy

       

MILAN (Reuters) – Currency in a fall session nervous and marked by a return to caution after the euphoria of yesterday.

       

From the very first lines to weigh on sentiment European stocks was the negative closing yesterday on Wall Street with a dramatic U-turn in the final despite the expansive measures of the Chinese central bank.

       

There are not enough then the increases of US stocks at the opening and signs of a representative of the ECB for a strengthened QE, if necessary, to support the European markets, including Milan. Although the latter, following a massive correction, still offers opportunities to purchase.

       

“Today the oscillations have been contained but all in all the continued volatility accompanied by strong volumes worries and makes investors very nervous,” said an operator.

       

“There is much confusion on crisis management of China, people do not know how to get on. We have been accustomed to a very low volatility in the market and now it is hard to sustain this situation,” he added.

       

Meanwhile, in terms of portfolio strategies, waiting to see what the underlying trend, “should buy stocks with limited exposure to China and, in general, to global markets. In Italy banks are those that have a more domestic business and at this stage you have to have them in their portfolios, “he added.

       

The FTSE MIB index closes down 0.81%, the AllShare 0.76%. Volumes to 3.45 billion Euros.

       

In Europe, the benchmark FTSEurofirst falls 1.57% in Frankfurt and Paris, leaving on the ground a little over 1%.

       

On Wall Street the main index traveling upwards thanks to statements by William Dudley, president of the New York Fed, that a rate hike in September appears less suitable in light of the fact that the recent market turmoil They have increased the risks for the US economy. More …