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Piazza Affari, 2023 for the FTSE MIB 40 is record breaking. Forecasts

The year 2023 ends with a smile for investors in Piazza Affari, where the FTSE MIB 40 recorded extraordinary growth, confirming the positive trend that characterized much of the year.
Despite the economic, financial and geopolitical challenges that have characterized Europe, the stock markets of the old continent have resisted the pressure, highlighting the resilience of investors and their optimism towards the market.
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FTSE MIB 40: a record-breaking 2023 The FTSE MIB 40, the index of the 40 most capitalized Italian companies, saw an increase in the value of shares of 27% during 2023, with a notable leap of 50% compared to the lows of the 'last year.
An exceptional result which led the index to exceed the psychological threshold of 30,000 points, a level not touched for over a decade.
This milestone was welcomed with enthusiasm by Italian traders and investors, underlining the strength and vitality of the national stock market.
The banking sector has played a key role in the upward momentum of the FTSE MIB 40, with the FTSE MIB banks recording an impressive 40% increase over the year.
This success has been fueled by the positive reaction of investors to the monetary policy of the European Central Bank (ECB) in recent years and the related strengthening of the balance sheet of Italian banks.
The recent confirmation of Italy's creditworthiness by Moody's, at Baa3, with an improvement in the outlook from "negative" to "neutral", has further consolidated the position of the Italian stock exchange.
Piazza Affari for 2024: will it be a bullish year? Piazza Affari is preparing to enter the new year as a winning market, with strong growth prospects and valuations still accessible according to many analysts.
However, investors are aware that potential changes in central bank monetary policies could influence some kind of sector rotation, as has often happened in the past with the onset of January.
In particular, we could see a growing interest in the shares of smaller capitalization companies, which could benefit from an easing of the pressures linked to the rise in interest rates, which has also had a negative impact on their price in recent years.
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The FTSE MIB 40 maintains its position in bullish territory, approaching the highs of the year which also coincide with the highs of the last ten years of trading.
This, following carefully the performance of the European stock market, led by the EURO STOXX 50, also shows considerable solidity.
A first crucial support level, the respect of which would demonstrate the strength of the demand side, is represented by 30,000 points, a level that has been maintained for the last three weeks.
After six weeks characterized by green candles or dojis, the market remains confident ahead of the last week of the year, which coincides with the holidays.
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Author: A.W.M.

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