More purchases on Mediaset. And more suspensions upwards. The Alfa stock did not stop the rally and after yesterday's +10,59%, this morning it rose by 3,64% with over 20 million pieces traded at the end of the morning. A race that has been going on for two weeks. And which raised the share to 1,624 euros from the historic lows of June to 1,144 (+41%, despite the pause on Tuesday on profit-taking when the share closed down by 1,8%) with sustained volumes also for normal trading days: yesterday over 50 million shares were traded, a new record for five and a half years, equal to over 4% of the share capital and 29,7% changed hands in fifteen days.
It's not actually about an August rally, when in a context of thin volumes, a few purchases are enough to make a stock soar. But there are those who are buying with both hands. Of course, on the one hand the prices were extremely depressed (-41,44% in the last 12 months at yesterday's close and -38% from the annual high of 9 February at 2,5282 euros). Thus it is physiological to speak of a technical rebound and of coverings by the institutional ones who are focusing on some stocks on the Milanese list (including A2A) in view of possible decisive moves by the ECB in September.
Then there are those who hypothesize that it is buying back Fininvest itself, already a 40% shareholder of the Biscione. Both as a sign of confidence and as a form of investment. As indeed it has already done in the past. On the other hand, the wave of selling on the stock was made worse by the reaction to the half-yearly accounts (released at the end of July) which showed falling profits: the stock lost 10% in just one day. But Mediaset, in response to the catastrophic comments of a part of the financial community, recalled in an official note that it still closed the half-year with a profit of 43,1 million euros in a context of redundancies and restructuring of various communication realities.
However, the hypothesis that most fascinates the Stock Exchange is the possible interest of some foreign investors with the Arabs in the front row. Which, among other things, have already made several incursions into the capital of some large Italian listed companies (see Unicredit) and which, thanks to their huge financial resources, could enter with significant shares. For now there are no confirmations and the mystery remains. But it is still one of the country's industrial giants, prominent in the media landscape and owned by former premier Silvio Berlusconi. There is enough to tempt the sovereign wealth funds of Abu Dhabi or Qatar.
