Interpump falls 4.3% on track for lowest level since January

Interpump SpA

07/08/2023 11:52

** Shares of Italy's pump manufacturer Interpump  ITPG.MI 
fall as much as 4.9%, on track to hit its lowest value since
January 5, as investors react to the company's book-to-bill
ratio value
    ** "I think the main reason is the book-to-bill, which the
company sees now lower than 1," a Milan-based trader says
    ** The book-to-bill is a ratio between book order and orders
already billed
    ** "The stock had already corrected its value after Friday's
results and today there was another correction", he added
    ** The shares started dipping on Friday when the stock
closed down 4.7% at 47.3 euro ($51.88) per share, despite the
group having hiked its sales outlook for 2023 on Friday when it
released its Q2 results   
    ** Another Milan-Based trader points to the fact that the
stock is continuing the downward movement started on Friday
    ** Including today's fall the stock has gained 7.42% YTD


($1 = 0.9117 euros)

 (Reporting by Alberto Chiumento)
 ((Alberto.Chiumento@thomsonreuters.com;))