The latest Statistical Bulletin published reports data on listed companies and financial intermediation in the first semester of 2020, highlighting the first markers of the economic crisis following the COVID-19 pandemic.
Market capitalization down by 16.4% and capitalization/GDP ratio at 33.5% in comparison to 33.1% at the end of 2019. Increase of the volume of traded shares (+ 23.5%) and equity derivatives (+ 8.8%), with respect to the first semester of 2019.
Overall drop in net profit of listed companies: insurance companies recorded profits of 1.7 billion Euros, non-financial companies listed on the MTA recorded net losses of around 5.6 billion Euros and a corresponding increase in the use of debt of approximately 6.1 billion, the banks report an overall negative profitability of 9 million Euros. The industrial companies listed on the AIM recorded losses of 9.6 million Euros.
Increase in the investor preference for liquid assets. Reduction in the value of financial instruments held with Italian intermediaries for investment and asset management services (-2.3%). The sum of the two quantities is stable. Growth of the weight of foreign securities in the equity portfolio of professional customers, at the expense of Italian ones. Retail customers take refuge in government bonds.
Reduction of 14.2% in bond issues of Italian banks (compared to the same period of 2019), due to public offers on the domestic market (-36.1%). Increase, on the other hand, of private offers to institutional investors (+ 29.5%).
Gross inflows from financial instruments increased by around 209 billion Euros (+ 17.9%), while inflows of insurance products with a prevalent financial content made by Italian intermediaries amounted to around 14.7 billion Euros (-33.4%).
Overall increase in business volumes relating to the provision of executive investment services (execution of orders + 31.3%, receipt and transmission of orders + 29.3%, trading on own account + 45.7%).
The assets managed by Italian intermediaries decreased (-1.9%) as well as the assets of foreign UCIs placed in Italy (-1.1%).