Italy To Sell About 92M Shares Of ENI For About €1.4 Billion
Portfolio Pulse from Benzinga Newsdesk
Italy plans to sell approximately 92 million shares of ENI, valued at around €1.4 billion.
May 15, 2024 | 5:24 pm
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NEGATIVE IMPACT
Italy's decision to sell 92 million shares of ENI, worth about €1.4 billion, could lead to a short-term decrease in ENI's stock price due to increased supply in the market.
The sale of a large number of shares typically increases supply, which can put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The sale of ENI shares by Italy could impact the iShares MSCI Italy ETF (EWI), as ENI is a significant component of the ETF.
ENI is a major component of the EWI ETF. A decrease in ENI's stock price could negatively impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50