The stock of Stmicroelectronics shines in Piazza Affari, which at the end of the morning scores an increase of more than four and a half points (to 4,524 euros), clearly taking the lead on the Ftse Mib. The electronics group's shares are dragged down by the rumors published today by the French newspaper Les Echos, which speaks of a new mandate entrusted to JP Morgan. The American Bank should find a way forward by the end of the year to revive the fortunes of the ill-fated ST-Ericsson joint venture, which has so far produced only losses.
“I see no other reason to justify the purchases – says a trader quoted by Reuters -. After the recent declines, they were looking for an excuse to go back to buying some shares”. In the second quarter alone, ST-Ericsson recorded an operating loss of 235 million euros. Les Echos writes that the Swedish Ericsson and Stmicroelectronics are evaluating strategic options such as the division of the company or the search for a new partner.
STM has lost a lot of ground on the stock market since mid-September, with a drop from over 5 euros to a low of 4,2. The group announced a new business plan at the end of the year, aimed at addressing weak demand and changing customer demands.
