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AC Milan rose 6.95% amid volatility over Ukraine

AC Milan rose 6.95% amid volatility over Ukraine

This content was published on Mar 09 2022 – 17:24

Rome, March 9 (EFE). – The Milan Stock Exchange closed this Wednesday with a 6.95% rise in its FTSE MIB selective index, which reached 23,889.49 points, amid the volatility prevailing in the markets since the outbreak of the war in Ukraine.

The index is still accumulating 9.55% in the last month due to the tensions related to Ukraine.

The FTSE Italy All-Share general index advanced 6.79% this Wednesday, to 26,030.29 integers.

During the session, 1370 million shares were traded at a value of 4579 million euros (about 5067.88 million dollars).

Investors are betting on stocks that have been hit the hardest in recent days, especially banks, which are among the most exposed to Moscow on the European continent.

Banks had started the year higher in the hope that the European Central Bank (ECB) would raise interest rates later this year, but tensions in Ukraine and then the outbreak of war brought them lower in some cases. month, such as UniCredit.

The sector is now at attractive levels for investors to try for a recovery which is why Finecobank (11.87%), UniCredit (11.68%), Intesa Sanpaolo (11.09%), Banca Mediolanum (10.96%) and BPER Banking (9.99%).

On the contrary, the three values ​​of selectivity that closed in red relate to oil, as investors took the opportunity to take profits in these assets, which benefited from Russia’s strength as an oil and gas exporter. .

The worst steel pipe producer for the oil industry was Tenaris (-5.53%), followed by oil and gas company Saipem (-1.44%) and Eni (-0.50%). EFE

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