Amazon Fined by Italian Regulator

Dominant Position Fine

The Italian competition authority, the Autorità Garante della Concorrenza e del Mercato (AGCM), announced today that it has levied a fine of more than € 1,128 billion on Amazon, for a breach of Art. 102 of the Treaty on the Functioning of the European Union. The Authority found that Amazon harmed its competitors in the market for e-commerce logistics services. [1]

In particular, the statement said: Amazon holds a dominant position in the Italian market for intermediation services on marketplaces, which Amazon leveraged to favour the adoption of its own logistics service - Fulfilment by Amazon (FBA) - by sellers active on to the detriment of the logistics services offered by competing operators, as well as to strengthen its own dominant position.

Increased Scrutiny

Amazon and other tech giants have come under increasing regulatory scrutiny in the United States and Europe for anticompetitive practices, with the recent appointment of Lina Khan as head of the US Federal Trade Commission (FTC) is definitely not good for those companies.

Ms Khan, who was sworn in as Chair of the agency June, is a long-time critic of Big Tech, having published an article titled "Amazon's Antitrust Paradox" a few years back. [2]

Amazon and Facebook have both filed petitions for Ms Khan to recuse herself from antitrust cases against them. [3], [4]

Stock Movement recovers from the two negative weeks that followed its Mid-November failure to surpass the record high from July (3.774.60).

During the current week however, it stages a rebound helped by broader improved sentiment. Having defended its 200Day EMA at the start of it and then returning above the Hourly EMA, bias is on the upside. As such, it can push new all-time highs, with the first resistance located at around 3,625-30.

On the other hand, Wednesday was mixed and news of the fine could weigh on the stock. This could lead back below the EMA100 (at around 3,490) that would expose it to this month lows and the broader 3,350-35 region.

Past Performance: Past Performance is not an indicator of future results.

Nikos Tzabouras

Senior Market Specialist

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.



Retrieved 09 Dec 2021


Retrieved 09 Dec 2021


Retrieved 09 Dec 2021


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