(Telestock) – Snapshot at Piazza Affari the title Camparia group that is part of the FTSE MIB and is active in the beverage sector, after it failed to make a price in the first minutes of trading due to excessive increases. The first price was beaten at 9:10 at 7.55 euros per share, compared to yesterday’s closing at 6.978 euros.
Helping the rebound, after the 14% drop recorded in the last week, is the news that Lagfinthe Luxembourg-based holding company through which the Garavoglia family controls the group, intends to purchase up to 100 million euros of shares ordinary shares because it believes that the current share price “does not accurately reflect the true value”.
The group’s shares closed down 7.48% yesterday, after the CEO Matthew Fantacchiotti has left unexpectedly the group’s leadership after just five months, citing “personal reasons.”
The decline in the stock market had begun last fridaywhen several traders and analysts had reported that the CEO had defined the current quarter “still rather weak” for the sector at a BofA conference. The stock had fallen nearly 6% that day, before losing another 2% on Monday.
At 9:15 Campari stands at 7.41 euros, with an increase of 6.19%. At an operational level, the session is expected to continue under the banner of bull with resistance seen at 7,521 and then at 7,709. Support at 7,333.
(Photo: © Campari)