(Finance) – The last month was “seasonally weak” in terms of news flow for Listed Italian Mid Small Caps, with the “macro picture providing mixed signals” while Italy’s GDP shows some resilience, partly thanks to the support of tourism but also thanks to surprisingly solid local demand. This can be read in the monthly Report on Italian Mid Small Caps by the Research Team of Intermontewhere it is emphasized that the preference for securities exposed to digital transformation “it has finally marked a recovery, supported by interesting valuation multiples”, by a slight reduction in Italian interest rates and by a widespread debate on the unexpressed potential of artificial intelligence.
Looking to the future, the evaluations of some sectorslike IT, “remain tempting and we expect the second quarter results to provide confirmation of the validity of our estimates”, reads the document.
There liquid assets “remains a problem among small caps, especially in relation to the substantial outflows from PIR funds which, on average, represent around 10% of the free float of this segment”.
Intermonte’s hope is that “some initiatives can help improve the situation after a period of contained flows and lack of new listings“.
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