Saipem travels against the tide to Piazza Affari, where it rises by more than 4% to € 1.0915 thanks to the support of oil prices which accelerated again in the morning (Brent rises by about 2% above the threshold of $ 118 per barrel) .
However, press rumors about the financial support maneuver are also taking hold, which, according to what reported by “Il Sole 24 Ore”, should be around 1.5 billion euros around September-October in addition to 500 million subscribed by the guarantee consortium. In particular, the support scheme provides for the immediate injection of 650 million euros by the two shareholders (Eni and Cdp), while the remaining 850 million would be borne by the banks in the form of a loan guaranteed by Eni pending the Sace guarantee. for 70% of their intervention.
“The capital increase is considerable. However, the prospects for E&P investments are improving, as suggested by the contract announced last Friday”, underline the analysts of Banca Akros who maintain the neutral recommendation on Saipem with a target price of 0.9 euro. . “It is reasonable to assume that concerns about oil and gas supply could lead to increased investment in the upstream and downstream segments,” they add.