Fiat Industrial is up in Piazza Affari against the market trend weak, benefiting from better than expected results and the upward revision of the estimates for 2012 of Deere & Co, the main producer of agricultural machinery in the USA, a competitor of the subsidiary CNH.
At the end of the morning the Fiat Industrial stock marks an increase of two and a half points, clearly leading the Ftse Mib, which lost 1,6% in the same minutes.
The American subsidiary of the Turin group announced on 25 April higher earnings than analyst forecasts thanks to higher margins and market strength in the US agricultural sector. Even its competitor Agco beat Wall Street's expectations on May XNUMXst.
Deere yesterday announced fiscal second quarter net earnings per share of $2,61, above estimates by $2,53, and raised its earnings forecast for the year to about $3,35 billion from $3,275 billion on the back of growing demand for agricultural machinery worldwide.
