Shares in Italian refinery Saras slide after Trafigura cut stake
05/01/2024 09:53
MILAN, Jan 5 (Reuters) - Shares in Italian refinery
Saras SRS.MI fell more than 5% on the Milan stock exchange
reacting to the news that commodity trader Trafigura had trimmed
its stake in the company.
Trafigura sold shares in Saras last month cutting its stake
in the Italian group to just above 13% from nearly 15%, a
regulatory filing issued late on Thursday showed.
"We believe that the slight reduction in Trafigura's stake
reduces the speculative appeal of the stock," Italian broker
Equita said in a report to clients.
(Reporting by Francesca Landini and Gianluca Semeraro, editing
by Giselda Vagnoni)
((francesca.landini@thomsonreuters.com; +39 02 66129437;
Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))