Day highly negative for the Italian Stock Exchange (-2.90) to 14.00, together with all European markets. The one that goes up is Fonsai (Ligresti family holding company), but that comes from a total drop of 26% in the last week. Heavy losses for the CIR, with the title to share 1.679 at 13.50 hours(-6.15%), but later in the day had reached 1.898 (much higher than top price of 1.793 in 8 July). This is despite the ruling of the arbitration award which requires the Mondadori Fininvest to pay 560 million euros to the CIR (there is, however, still appeal in the Supreme Court, for reasons of legitimacy and not on merit).
The CIR is an industrial holding company, owned 56% by De Benedetti Cofide group.
The assets of the company comes from electricity (Sorgenia), publishing (Express), the healthcare sector (Kos) and auto parts (Sogefi).
A study of the Deutsche Bank in February 2011 shows how Sorgenia, the leading private operator in the electricity and natural gas, contributes with about 2.700 million. euros in 2010 group's earnings (4.658 mln. euros). Very ambitious future plans of the company (listed in the 2011-2016 business plan presented in late February 2011).
Data from the first quarter of 2011 show a turnover of CIR in line with the same period last year, along with an EBITDA growth (124 mln. Mln.di against 67 euros).
The confirmation of these data could improve the profitability not exceptional highlighted by the 2010 budget (10.2% EBITDA, ROE 5.5%).
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