Danieli jumps after FY results, positive outlook for steel market

Danieli & C Officine Meccaniche SpA

28/09/2021 10:40

** Shares in Italian Danieli gain as much as 10% on Tuesday
after FY 2020-21 results better than expected and positive
outlook in the steel market for year-end and 2022   
** "We believe that the announced results were slightly weak for
revenues, but better than consensus for operating profitability.
In addition, we note that  management outlined a positive FY
2021/22 outlook for both the group's divisions," broker Intesa
Sanpaolo writes
** The steel plants producer says it expects that "the steel
market will be strong in the second half of 2021 and is expected
to further improve in 2022, following a general post-COVID
recovery of the world economy" 
    ** The stock is among the top gainers on Milan's all-share
index  .FTITLMS , with shares up 7.9% at 25.15 euros by 0932 GMT
** The stock has risen around 75% since the beginning of the
year
    
   

 (Reporting by Giancarlo Navach, editing by Cristina Carlevaro)
 ((giancarlo.navach@thomsonreuters.com; +39 0266129518))