OVS jumps as broker sees return to pre-COVID performance

Tamburi Investment Partners

20/07/2021 15:37

** Shares in Italy's OVS  OVS.MI  jump as much as 8% on Tuesday
after the clothing retailer signals a possible recovery in
revenues and profits to pre-COVID levels during a roadshow,
according to broker Equita
** Equita expects such a recovery and also sees a chance for OVS
to consolidate the domestic clothing market
** "We are very positive on the investment case, supported by
messages of great confidence expressed by the management for the
short and medium term," it writes    
** OVS is due to complete a rights issue to raise up to 80
million euros ($94 million) on Tuesday
** The stock is among the top gainers on Milan's all-share index
 .FTITLMS , up 8.1% at 1.62 euros by 1430 GMT, outperforming
Milan's Bourse index  .FTITLMS 
    ($1 = 0.8495 euros)

 (Reporting by Giancarlo Navach
Editing by Mark Potter)
 ((giancarlo.navach@thomsonreuters.com; +39 0266129518))