Once the "extravaganzas" of the Stock Exchange, as Sergio Marchionne called them, have run out, everything is ready for the landing on Wall Street scheduled for October 13, the day after Columbus Day. The prediction comes from the CEO himself, who in Rimini, on the occasion of the Meeting, revealed that "any decision on a capital increase will be taken by the board convened for the end of October".
From the half-yearly report of Exor, controlling shareholder of FCA (strong of 30 of the capital but also of 46 percent of the voting rights of the new holding), emerges an availability of 1,33 billion euros. Marchionne also confirmed the targets for 2014, emphasizing that "the American market is doing incredibly well".
However, brokers are convinced that an injection of capital is needed to pursue the ambitious targets promised in May (60% growth in sales by 2018), perhaps with the convertend formula.
Fiat, according to the half-yearly report, boasts liquidity of 18,5 billion euros against 33 billion in debt. JP Morgan meanwhile confirmed the underweight opinion on CNH, cutting the target price from 10,5 to 9 euros.
As for sales, the Fiat group recorded a 4% growth in France in August.
Meanwhile, this morning in Piazza Affari the Fiat share is traveling just below parity (-0,13%).
