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Stock market, Finmeccanica in the abyss (-14%) after the disappointing half-year

The stock is at its lowest since 1998 – Kepler, Cheuvreux, Banca Akros and Unicredit have cut the rating on the aerospace group – Yesterday in the mid-year accounts the company announced that it had to review the 2011 target for revenues, which went from 18,3- 19 to 17,5-18 billion.

Stock market, Finmeccanica in the abyss (-14%) after the disappointing half-year

In a day of relative calm for Piazza Affari, which hovers around parity, the vultures of speculation have found a new target. After abandoning the banks, which in these hours are traveling positively in the covering phase, the perfect storm was unleashed on Finmeccanica: around 11, the aerospace group recorded a collapse of more than 14%, at a price even lower than 6 euros per share. This is the lowest since 1998, in the worst session since October 2008.

A real Caporetto caused by disappointing half-year presented yesterday. Numbers that speak of a profit of 456 million only thanks to the sale of 45% of Ansaldo Energia, which yielded 443 million. Revenues, on the other hand, decreased by 3%, forcing the company to revise its estimates for 2011, down by around one billion compared to the original range (from 18,3-19 to 17,5-18 billion). Result: Kepler, Cheuvreux, Banca Akros and Unicredit have cut the rating on Finmeccanica. Then came the ruling of the markets.

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