Bad day a Business Square but not for Saipem. The subsidiary of the Eni Group is in contrast with the mid-morning trend of the Milan Stock Exchange which at 11 am today lost 1,33%. The share of Saipem, on the other hand, marks a marked rise and at 11 am it gains +2,18%, to 13,21 euros, with a maximum reached at 13,36 euros shortly after the opening of trading in Piazza Affari.
On a bad day for Piazza Affari, Saipem's positive data should also be read as an effect of the leap of Cgg, a company active in oil services like the Italian group, which gained 22% on the Paris Stock Exchange. Cgg received a purchase offer of 1,5 billion euros from Technip (-6,67% to 56,81 euros again in Paris).
However, the board of directors of the oil services company has indicated that the offer of 8,3 euros per share does not include such conditions for its acceptance. Technip has announced that it hopes to be able to start a constructive dialogue with the board of Cgg hoping to reach a successful outcome of the operation.
