Piazza Affari utility under pressure today. Enel’s decline of more than 2% stands out, which in the morning reached a minimum of 4.50 euros, the lowest level since November 2018. Since the beginning of the year, the stock has recorded approximately -37%. Investors are looking at the possible moves of the next government. Giorgia Meloni, leader of Fratelli d’Italia, during the election campaign indicated that a government led by her will take unilateral action to decouple electricity costs from gas prices if the EU does not make rapid progress with one joint effort.
Meanwhile, Enel announced the conclusion of the process for the sale of the CELG electricity distribution network to Equatorial Participacoes for a value of 7.3BRL (approximately 1.4 billion dollars). Equita points out that the effect on Enel’s debt will be positive for 1.4 billion, already included in the group’s guidance (considering the sale process already underway).