Bio-on S.p.A. (ON) Soars 0.98% on Feb 16

February 16, 2018 - By Marguerite Chambers

Shares of Bio-on S.p.A. (BIT:ON) last traded at 25.7, representing a move of 0.98%, or 0.25 per share, on volume of 22,750 shares. After opening the trading day at 25.55, shares of Bio-on S.p.A. traded in a close range. Bio-on S.p.A. currently has a total float of 18.83 million shares and on average sees 39,467 shares exchange hands each day. The stock now has a 52-week low of 14.76 and high of 31.4.

Borsa Italiana: A Rising Giant in Europe

The Borsa Italiana, which is also known as the Piazza Affari, is Italy’s main stock exchange. It does not just take pride in being one of the oldest stock exchanges globally; it also takes pride in being one of Europe’s best stock exchanges today. It is an honour to be inside for Bio-on S.p.A. as well. Needless to say, the Borsa Italiana has led the European economy— in one way or another— to become the globally influential economy that it is today.

On the other hand, the FTSE Milano Italia Borsa (MIB) is the country’s benchmark index. Like the Borsa Italiana, it also has a meaningful impact in the entire European trade and commerce environment.

Borsa Italiana

Napoleonic Kingdom of Italy Viceroy Eugène de Beauharnais had established the Borsa Italiana in February 1808 as one of the first stock exchanges in the world. Based at Palazzo Mezzanotte, Milan, its operations had always been supervised by the government as public entity until 1998.

The London Stock Exchange Group had purchased the Borsa Italiana in an all-stock agreement in 2007, merging it with the London Stock Exchange. It helped Bio-on S.p.A. received new audience.

On the Borsa Italiana, the pre-market session lasts for an hour, starting at 8:00 a.m. and ending at 9:00 a.m; the regular session lasts for 8.50 hours, starting at 9:00 a.m. and ending at 5:30 p.m.; and the post-market session lasts for 2.50 hours, starting at 6:00 p.m. and ending at 8:30 p.m. The long trading hours give way to international investors who live in countries with different time zones. Consequently, the Borsa Italiana has so much room for growth. Not all stock exchanges have trading hours this long.

Today, the Borsa Italiana has a total market valuation of about $645 billion with over 300 companies listed on it.

FTSE MIB

The FTSE MIB is currently operated by the FTSE. Prior to the takeover of the FTSE in June 2009, it had been operated as the S&P/MIB by the S&P.

The FTSE MIB tracks the 40 largest companies listed on the Borsa Italiana based on market capitalization and with respect to free-floating shares. Different companies of major sectors such as Energy, Financials, Mining, and Telecommunications are included in the FTSE MIB, which represents roughly 80% of the total market valuation on the Borsa Italiana. The components are reviewed quarterly to guarantee the best possible indication of the health of the Italian economy, which plays an important role in the success of the entire European economy. Health of Bio-on S.p.A. shares attract attention of investors.

The FTSE MIB had hit an all-time high of 50,108.56 points, which also happens to be its best intraday high, in March 2000. On the other hand, it had hit an all-time low of 12,362.52 points in July 2012 mainly because of high borrowing costs in Europe.

Many investors are considering Borsa Italiana stocks because of Italy’s competent trade and commerce landscape. It is one of the best ways to count on the growth of the European economy regardless of whether investors are trading short-term or long-term.

More notable recent Bio-on S.p.A. (BIT:ON) news were published by: Globenewswire.com which released: “Clean energy for Bio-on’s new biopolymers “factory” thanks to a trigeneration …” on January 16, 2018, also Globenewswire.com with their article: “Kartell enters Bio-on to help develop new technologies” published on December 20, 2017, Globenewswire.com published: “Bio-on and AkzoNobel continue their collaborative relationship” on December 04, 2017. More interesting news about Bio-on S.p.A. (BIT:ON) were released by: Globenewswire.com and their article: “New Bio-on plant to produce bioplastic microbeads for cosmetics” published on March 21, 2017 as well as Globenewswire.com‘s news article titled: “Bio-on: project launches for sustainable low-cost production of levulinic acid …” with publication date: March 02, 2017.

Bio-on S.p.A. produces and sells polyhydroxyalkanoates from renewable sources or agricultural processing waste materials worldwide. The company has market cap of 483.81 million EUR. The firm offers MINERV-PHA, a high-performance PHA biopolymer product for use in general packaging, food packaging, design, clothing, and automotive applications. It currently has negative earnings. It also licenses its products.

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