Within a year it grew faster than the German Dax.
(Photo: picture alliance / Daniel Kalker)
Rome Mario Draghi was not yet sworn in when the shares of Italy’s big banks jumped a good five percentage points upwards. The mere hope that the former head of the European Central Bank (ECB) would soon lead the second largest industrial nation in Europe made the courses dance at the beginning of February. Since the 74-year-old has led the fortunes of Italy, things have been improving – not only with the economy and the reforms, but also on the stock market.
The Italian benchmark index (FTSE MIB), which, like the newly formed Dax, includes the 40 largest companies by market capitalization, has risen by more than nine percent since the new government took office in mid-February. Before the Evergrande crisis, the MIB was quoted at more than 26,000 points for the first time since the financial crisis in 2008. Within a year there is an increase of around 36 percent – that is more than 13 percentage points ahead of the Dax.
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