If the Italian stock exchange seems to reflect the difficulties of the national production system, with a value of the Ftse Italia All Share index decreasing by -6% in the last 5,39 months, it must be recognized that the stock market situation appears anything but uniform: denotes attractive areas for certain sectors and listed companies.
If the result is disaggregated as suggested, the surge in the media segment stands out, with an amazing +81,36%, the result of transactions such as the sale of La7 to the Cairo group or the recovery of the Mediaset share, which perhaps had over-discounted disbursements for legal disputes in which he is involved. The gains on the technological stock sector are also very significant, with a +31,52%, and on the motor vehicle and associated components market, with an increase of +28,95%.
With reference to the latter sector, the performance was driven by the Fiat spa share, which, also thanks to the subsidiary Chrysler, announced encouraging results if the Italian market is excluded, and by the Brembo share. Following are the securities of investment banks and real estate holdings, up by 27,59%, in the wake of the records that the world of managed savings and private banking is grinding in terms of deposits and managed assets.
However, these very positive results are counterbalanced by sectors with just as many losses, given the negative stock market result in aggregate. The latter was contributed by securities in the telecommunications sector, which recorded a drop of -22,52%, in which the main contribution was due to the -21,82% of Telecom Italia, in turn largely due to the sale of the television branch of the group.
Heavy, given the overall weight in the Italian stock market, is also the impact of the oil sector, down by -19,16% from the beginning of the year. Finally, the result in the negative zone was driven by the shares of commercial banks, down by -5,92%, among which stand out both shares of less well-known institutions, such as the Banca Popolare dell'Etruria e del Lazio, and known as the People's Bank of Milan.
Comparing the Italian market thus broken down with the trend experienced by the same sectors in the rest of Europe, it emerges that the Italian Stock Exchange has generally tended to amplify the downward or upward pressures in the individual sectors compared to other European markets.
Furthermore, considering that the Euro area Stoxx index used as a reference for the comparisons is affected by the Italian experience, it can be concluded that it is often the Italian internal dynamics that pushes the European figure. Emblematic in this regard is the case of the media sector, which grew in Europe by just over 8% in the wake of an almost tenfold Italian figure.
