It sinks Tod’s and bounce Bper, while Ps traveling in deep red after the half-yearly accounts worse than expected. These are the titles under the spotlight at Piazza Affari in the last session of the week.
In mid-morning, while the Ftse Mib travels slightly below parity, Tod's shares collapse until they are suspended in the volatility auction with a drop of 9,57%, to 77,05 euros. The wave of sales was triggered by the numbers of the first half, which closed with a net profit of 56,2 million euros, down on the 75,7 million recorded in the same period of 2013, on revenues of 478 million, down by 2,7% at current exchange rates and by 0,5% at constant exchange rates. Ebitda stood at 103 million from 129,5 million in the same period of 2013.
The temporary contraction of Ebitda, Diego Della Valle's company explains, reflects the strategic choice to continue investing in the development of the distribution network, in communication and in the human resources necessary to support the growth program of the group in the medium term, while maintaining at the same time excellent profitability, which will obviously be much greater as soon as these investments give the expected results when fully operational. Exane and Mediobanca have lowered the target price of the stock.
As for the Bper stock, in the same minutes it was up 7,6%, at 5,45 euros, rebounding after yesterday's -13,7%, a thud that came despite the institute's leaders announcing the return to profit in the first half of 42,5 million euro. Consob has approved the temporary ban, for today's session, on short selling of shares issued by Banca Popolare dell'Emilia Romagna.
In the note, the Commission specifies that the decision derives from the sharp drop in the Bper share, exceeding the 10% threshold. Consob also believes that "the information context does not fully justify this price change and that, therefore, speculative bearish phenomena cannot be ruled out".
