Borsa, in Piazza Affari a debut to forget for Iveco. Price up, the Omicron variant is less scary for investors
The first day as a “freshman” at Milan Stock Exchange it is not going in the best way for Iveco. The company, a spin-off of Industrial Name, started a few hours ago the bargaining on the main price list of Piazza Affari recording a drop in prices of around 10%, for a capitalization of around 3 billion euros. The day a Midnight Palace it is one of the positive ones, with the main price list up by more than 1% and the spread downwards. It means concern for Omicron is being progressively supplanted by the belief that this variant is less dramatic than the previous ones and that, consequently, there may be the hope of a substantial “endemization” of the Covid-19.
Therefore, the conditions for a positive performance were all there. The actions of Iveco they were placed at € 11.26 each but, after an initial interest from the investors which led to an increase up to 11.4, there was then a gradual decline in valuation, with the stock having already dropped below the 10 euro threshold per share shortly after 10.30. Yet, the expectations were different (and in some ways they continue to be, as we shall see). For Akros Bank – as reported Mf – it may take a while for the spinoff to have a concrete effect Iveco gives Industrial Name. Translated: in the first weeks of bargaining, especially in this still somewhat “sleepy” post-New Year’s Eve, it could be precisely Cnh.
Also Intesa Sanpaolo for the moment she remains cautious. Second Ca ‘de Sassin fact, “the market may not yet be ready to fully understand the upside potential of the stock. In this context, the market may be tempted to privilege Cnh. However, in the medium term we continue to believe that the spin-off process will allow the upside potential of both Iveco and Cnh“. The rite of the bell ringing entrusted to the CEO of the newly listed company, Gerrit Marx, for the moment it has not brought luck. But a hint of distrust was to be expected on the part of the investors. Also because, despite the legal denials, it remains to understand what you want to do with this historic brand.
Last year the negotiations with the Chinese of Faw they were well under way, then the deal fell through due to an offer deemed too low. “I don’t see Iveco as an acquisition target by others, nor do I see it as an actor aiming at aggressively acquiring others – he said. Marx at the opening of trading – The commercial vehicle market is consolidated. We will partner, we have no intention of selling business units “. To the Those in Las Vegas, meanwhile, we will see a small glimpse of the future, with the partnership between Iveco and the electric trucks of Nikola. The Pnrr it requires a spasmodic attention to emissions and the world of transport must be an integral part of the change. If Iveco manages to achieve the ambitious objectives it has set (fromelectric all’hydrogen until the biometano) then this lazy early January day will quickly be forgotten.