Suspended in volatility auction Saipem, while it lost more than 23% to 0,3998 euros per share. The share, already decimated by the trend of the capital increase which on Friday had caused shares and rights to lose about 30%, falls another 21% and pays for the decision by Standard & Poor's to put the rating under negative credit watch of the oil industry services company in the light of a possible correction of the 2016-18 estimates of the same agency on Saipem.
The probable rating cut by the US agency in the next few months could lead to an increase in the guarantee commissions requested by the banking syndicate to place Saipem for the recapitalization and an increase in interest rates on credit lines. Underlining the consequences of the probable cut by S&P, Intermonte lowered the price target on Saipem to 0,40 euro, confirming the 'underperform' recommendation. Akros has a target of €0,45 with a 'reduce' recommendation. The stock is currently below the 0,4 euro threshold, on a dramatic day for Business Square, which at the beginning of the afternoon lost almost 5%.
