Italy's OVS and Fiera Milano jump ahead of mall and fair reopenings
22/04/2021 11:25
** Shares in Italian clothing retailer Ovs OVS.MI and fair operator Fiera Milano FIMI.MI are up around 4% ahead of COVID-19 restrictions being gradually lifted ** On Wednesday Rome approved a decree easing coronavirus curbs, with several businesses opening again after being shut in the last few months to curb the pandemic ** From mid-May shopping malls will be allowed to open again during weekends in so-called yellow, low-risk regions, and in those areas, from June 15, exhibitions can be held ** "This news is positive for OVS since the group generates around 30% of its sales in the shopping malls during the weekend," broker Intesa Sanpaolo writes ** "We think that the unwinding of the restrictions improves the visibility on the sales and Ebitda strong recovery guided by the company on 2021," the broker adds ** "Regarding Fiera Milano the stock has been rising since Prime Minister Mario Draghi announced last week the return of fairs from July 1 and on Wednesday the government decided to bring this date forward," a Milan-based trader says ** The stocks are among top gainers on Milan's all-share index .FTITLMS , with OVS up 3.25% at 1.71 euros and Fiera Milano up 4.09% at 4.07 euro at 0952 GMT (Reporting by Giancarlo Navach; editing by Giulia Segreti) ((giancarlo.navach@thomsonreuters.com; +39 0266129518))