For Gaddafi the hours are numbered, but the fighting in the capital Tripoli continues. And the Milan stock exchange, despite the turmoil deriving from the eurozone debt crisis and fears related to the slowdown in the economy, is relishing the positive effects. There are many Italian interests linked to Libya and the stocks that had suffered the most at the beginning of the Arab spring, due to the uncertainty about the future of the Libyan country, are now taking their revenge.
Eni – As President Giuseppe Recchi recalled yesterday, 13% of the turnover of the six-legged dog depends on Libya (about 244 barrels per day). Eni had signed agreements with the Gaddafi government for the renewal of concessions up to 2045. At 11.30 the title Eni around 12.00 it grew by 2,03%, after closing yesterday at +6,33%. The subsidiaries Saipem and Snam also have projects in the North African country. The Saipem share rises by 1,25% while Snam falls by 0,30%.
Enel – The Roman company produces 8 billion cubic meters of gas a year in Libya, but a return to political normalcy in the North African country means new investments for Enel and the restart of those blocked due to the political crisis. The Enel share grew by 1,20%, as did its division linked to alternative energies Enel Green Power which rose by 0,60%.
Finmeccanica – Libya represents about 3% of the revenues of the Italian defense giant. Over the next three years, Finmeccanica estimated orders of 4-5 billion euros, around 10% of the total order intake. Lastly, the North African country is a shareholder of Finmeccanica through the sovereign fund Lia (Libyan Investment Authority) which owns 2,01% of the capital. Finmeccanica stock grows by 1,78%. The subsidiary Ansaldo Sts has recently begun an investment of 650-680 million euros (about 15% of the portfolio) to build a railway line in 5-6 years. The Sts stock grows by 0,25%.
Impregile it – The company has several contracts in Libya for a total of about 1 billion euros. The projects concern the urbanization of the city of Tripoli (about 300 million euros), the construction of three university centres, the city hall of the capital and other infrastructures. In addition, it competes for the assignment of the tender for the construction of the coastal highway in the country. Impregilo stock grows by 1,16%.
Unicredit – It is definitely the Italian institution most exposed to Libya: the central bank of Tripoli owns 4,98% of the capital and the Lia 2,59%, coming together to own more than 7,5% of Piazza Cordusio. The Unicredit stock loses 0,78%.
Juventus – The Libyan Arab foreign investment company (Lafico) is present in the capital of the Turin company with 7,5%. The Juventus stock has fluctuated around 0 since this morning, losing 12.00% around 0,50.
Fiat – The Lafico fund has also been present in Lingotto since 2002 and owns 2% of the capital. Fiat stock is up 2,22%.
