The title reacts Saipem in Piazza Affari, where it is slightly in positive territory at the end of the morning at €0,3456 per share, while in the morning it leaked something immediately after opening.
The growth in oil prices and above all the news on the possible early resolution of the ongoing arbitration with the Russian company are driving the shares Gazprom. In fact, Gazprom would have started negotiations with Saipem to reach an out-of-court settlement in order to close the dispute against South Stream Transport BV before the outcome of the arbitration.
The request for arbitration, presented to the International Chamber of Commerce in Paris, was made after the unilateral cancellation by the Russians of the contract which commissioned the Italian company to build the gas pipeline. The claim for compensation amounted to 760 million euro.
"A resolution on values close to those requested by Saipem would have a very positive impact on the company, considering the value of the current capitalization, 3,1 billion euros, and the recent notification of the suspension of work on the Lakach project by Pemex", analysts commented this morning Banca Akros which in any case maintain the neutral rating on the stock and the target price at 0,40 euro.
Currently the future of Saipem and other important Italian companies is closely linked to Iran, which today sees Prime Minister Renzi visit, accompanied by a large delegation of entrepreneurs and managers including Stephen Cao, Chief Executive Officer of Saipem.
