Italian stock alert

ITALY

CLOSING UPDATE: Saipem sinks 4.1%, led market lower 15 June 2018 19:15 CEST

NEWS BITES - EUROPE

This is an end of day Alert, produced after today's Italian market close. It concludes the BSS News Bites intra-day Alert series (summaries below).

Saipem, Italy's 2nd largest oil & gas company by market capitalisation, has sunk 4.1% to trade at EUR3.72 vs. the FTSE MIB Index which weakened 176.8 points (or 0.8%) to 22,309.5. Representing a weighting of about 8.2% of the index, the stock accounted for 43.0% of today's loss. The shares have underperformed 96% of the market in the past week. Trading volume was 82% of average at the end of the day. Compared with the FTSE MIB Index which fell 176.8 points (or 0.8%) in the day, this represented a relative price change of -3.3%.

Technical indicators complementing today's significant downtrend:

+ The price dropped 3.9% in the last week.

Note

Saipem today is at a discount of 11.2% to the 12-month high of EUR4.19 on 24 Jan, 2018. It is at a premium of 26.5% to the 12-month low of EUR2.94 on 30 Aug, 2017.

Bullish Signals:

The positive 0.12 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.

In the Italian market, the stock's relative price strength percentile is rising at 89 for 6 months, 89 for 3 months and 93 for 1 month.

TODAY'S ALERTS

Afternoon Alert: Saipem decreases 1.8%, leads Oil & gas sector lower

15 June 2018 14:06 CEST

Saipem (MI:SPM) has decreased 1.8% to trade at EUR3.81 vs. the Oil & gas sector which weakened 186.6 points (or 0.5%) to 39,529.6. Representing a weighting of about 14.5% of the sector, the stock accounted for 55.7% of today's loss. The shares have underperformed 89% of the market in the past week. Trading volume was 93% of average so far today.

Afternoon Alert: Saipem decreases 1.5%, leads Oil & gas sector lower

15 June 2018 12:07 CEST

Saipem (MI:SPM) has decreased 1.5% to trade at EUR3.82 vs. the Oil & gas sector which weakened 118.0 points (or 0.3%) to 39,598.2. Representing a weighting of about 14.5% of the sector, the stock accounted for 74.9% of today's loss. The shares have underperformed 90% of the market in the past week. Trading volume was 78% of average so far today.

RECENT ALERTS

CLOSING UPDATE: Saipem down 3.8% in 2 days

13 June 2018 19:18 CEST

Saipem, Italy's 2nd largest oil & gas company by market capitalisation, extended its slide on Wednesday, shedding an additional 7.0c (or 1.8%) to trade at EUR3.78. Trading volume was 77% of average at the end of the day. The shares have fallen 15.0c (or 3.8%) over the past two trading days vs. the FTSE MIB Index which has risen 0.6% in the same period.

Afternoon Alert: Saipem down 3.1% in 2 days

13 June 2018 14:06 CEST

Saipem (MI:SPM) extended its slide on Wednesday, shedding an additional 4.0c (or 1.0%) to trade at EUR3.81. Trading volume was 85% of average so far today. The shares have fallen 12.0c (or 3.1%) over the past two trading days vs. the FTSE MIB Index which has risen 1.2% in the same period.

Saipem (MI:SPM; BIT:SPM; IM:SPM)

ISIN: IT0005252140

PermID: 4295875616

Source: www.BuySellSignals.com