The long wave of selling caused by fears of overheating inflation and by some negative days on the US markets did not spare the ESG stocks listed in Milan. However, that did not completely compromise the bullish approach of several stocks.
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How market volatility influences ESG stocks
These are sessions marked by flashes of volatility those experienced in the last period by the most sustainable and responsible blue chips of Piazza Affari involved in the trading simulation in ESG securities implemented by the ET Research Department. The long wave triggered by fears for signs of overheating of inflation and by some days of downward pressure on U.S. stock markets, tech stocks, in particular, has not spared the largest ESG stocks listed on the Italian Stock Exchange. However, this has not completely compromised the bullish approach of various stocks.
Among the companies showing an ascending graphical and technical configuration, with new highs since the beginning of the year, there are names such as A2a, Generali, Intesa Sanpaolo, Poste Italiane, Snam, Unicredit, UnipolSai. Some stocks have even taken advantage of this phase of volatility to find new energy to resume an uptrend that had been lost. One of the most evident cases from a graphical point of view is Cnh Industrial, which was followed by Stellantis. However, also the quotations of Eni and Tenaris show a desire to mark new annual tops. Worthy of observation is also the upward restart of Saipem, with an interesting restart signal after being oversold on the Rsi relative strength indicator.
On the ESG newsflow front, the protagonist among the companies under observation was Unicredit. Two are the most important news. The first concerns the launch of a $9.2 million (€7.5 million) loan in favor of Lati Industria Termoplastici, a Varese-based company operating in the rubber and plastic sector, with ESG-linked rate hedging. Unicredit also announced that it has developed a new system for measuring social impact, Unicredit Social Impact Banking, built together with the think tank Human Foundation.
Eni has also been active on the ESG-related news front
In fact, it published Eni for 2020, its 15th voluntary sustainability report, which outlines the company’s contribution towards carbon neutrality by 2050. Claudio Descalzi, CEO of Eni, commented on this step: “Eni for shows our commitment to a fair and inclusive energy transition that ensures access to energy for all, while preserving the environment.”
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First published in ETicaNews, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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