Time.news – Rome, March 13 – Pandemic, lockdown and economic-financial crisis have cut the value of Italian companies listed on the stock exchange by almost 80 billion euros. This was revealed by an analysis by Unimpresa, according to which in 2020, due to the effects of Covid, the total capitalization of Piazza Affari fell by 78 billion, down by 15% on an annual basis, going from 522 billion in December 2019 to 444 billion last December.
Simultaneously there is a flight of foreigners from the stock market of our country: the shares held by foreign entities, including divestments and a reduction in the prices of the securities held, fell from 49% at the end of 2019 to 46% last December, they were over 51% in 2015, which means that in five years they have visibly moved away from our financial market.
These are the main data of the periodic analysis of the Unimpresa Study Center on the value of Italian companies and on the distribution of shares. “We suffer a double, very hard blow: we are becoming less and less attractive and we are witnessing a significant impoverishment of our listed companies, it is a bad sign for our economy. It is a dramatic balance sheet, a spy, moreover, of a situation that the Coronavirus has only aggravated , but which, in reality, comes from afar, from decades of non-existent economic policy choices and from a never matured capitalism “. To speak is the general secretary of Unimpresa, Raffaele Lauro.
“Our finance – he says – based on relationships, on that capitalism of relationships that has caused enormous damage, has not proved to be a winning model: today there is a lack of financial resources and courageous and wide-ranging entrepreneurial choices. , now more than ever, small and medium-sized enterprises need to encourage their growth in size also with much wider access to regulated capital markets. This is another task, not an easy one, which the executive will have to take on. led by Mario Draghi “.
The study of the association is based on data from the Bank of Italy updated in December 2020 and crosses the data relating to the book value of the shares – listed and unlisted – held by all economic entities operating in our country: companies, banks, insurance and pension funds, central government, local authorities, social security institutions, families, foreign investors. The data compare the values recorded in the fourth quarter of 2019 and those of the fourth quarter 2020. According to the analysis, as regards the entire universe of joint-stock companies in our country, the largest share is in the hands of families: rising at 38.23% at the end of 2020 compared to 37.82% in December 2019.
In the special ranking, foreigners follow with 25.46% (it was 25.06%), companies with 14.66% (it was 15.23%), banks with 12.14% (it was 15, 23%) and the central state with 5.12% (it was 4.82%), insurance and pension funds with 2.73% (it was 2.63%); minority shares are attributable to local administrations (stable around 0.64% from 0.60%) and social security institutions (from 0.85% to 1.04%).
Overall, the value of joint-stock companies decreased by 10.22% from the fourth quarter of 2019 to the fourth quarter of 2020, with a decrease of 181.9 billion, falling from 2,322.2 billion in 2019 to 2,140.3 billion. last December.
Negative balance for families, which lost value in their portfolios for 60.02 billion (-6.83%) from 878.2 billion to 818.1 billion. Negative balance (-37.1 billion with a decrease of 6.38%) also for foreign investors: they had shares that were worth 581.9 billion in 2019 and in 2020, between decreases in shares and sale of share packages, they were worth a total of 544.8 billion.