Italy Mkt Has ‘Now or Never’ Chance This Year: Kepler Cheuvreux
2014-06-04 06:32:41.220 GMT
By Francesca Cinelli
June 4 (Bloomberg) -- Italy has greatest recovery potential
in terms of productivity, profitability of capital of any of
large European economies, Kepler Cheuvreux says.
* Highlights Italian equity mkt suffered most prolonged
valuation derating of its modern history from 2000-01
through to 2012-13
* Says 2013 marked end of chronic underperformance of Italian
mkt in Europe
* Says potential for recovery in corporate profitability could
be sustained over next 3-4 yrs
* Says Italy biggest winner within Europe from decline in cost
of public debt
* Says cost of debt servicing in Italy could fall by as
much as 2pp of GDP over next 5 yrs if ylds of govt debt
recorded since start of yr hold
* 5 preferred cos. remain (in order of mkt cap) Atlantia,
Telecom Italia, Enel Green Power, Gtech, Finmeccanica
Link to Company News:{ENEL IM <Equity> CN <GO>}
Link to Company News:{ATL IM <Equity> CN <GO>}
Link to Company News:{TIT IM <Equity> CN <GO>}
Link to Company News:{EGPW IM <Equity> CN <GO>}
Link to Company News:{GTK IM <Equity> CN <GO>}
Link to Company News:{FNC IM <Equity> CN <GO>}
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To contact the editor responsible for this story:
Francesca Cinelli at +39-02-80644-252 or
fcinelli@bloomberg.net
2014-06-04 06:32:41.220 GMT
By Francesca Cinelli
June 4 (Bloomberg) -- Italy has greatest recovery potential
in terms of productivity, profitability of capital of any of
large European economies, Kepler Cheuvreux says.
* Highlights Italian equity mkt suffered most prolonged
valuation derating of its modern history from 2000-01
through to 2012-13
* Says 2013 marked end of chronic underperformance of Italian
mkt in Europe
* Says potential for recovery in corporate profitability could
be sustained over next 3-4 yrs
* Says Italy biggest winner within Europe from decline in cost
of public debt
* Says cost of debt servicing in Italy could fall by as
much as 2pp of GDP over next 5 yrs if ylds of govt debt
recorded since start of yr hold
* 5 preferred cos. remain (in order of mkt cap) Atlantia,
Telecom Italia, Enel Green Power, Gtech, Finmeccanica
Link to Company News:{ENEL IM <Equity> CN <GO>}
Link to Company News:{ATL IM <Equity> CN <GO>}
Link to Company News:{TIT IM <Equity> CN <GO>}
Link to Company News:{EGPW IM <Equity> CN <GO>}
Link to Company News:{GTK IM <Equity> CN <GO>}
Link to Company News:{FNC IM <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Francesca Cinelli at +39-02-80644-252 or
fcinelli@bloomberg.net