Throw a bad air, it is appropriate to say, on Pirelli Real Estate, which ended the year 2008 with a net loss on the consolidated balance sheet of € 195 million , a cold shower from a profit of 162 million euro by the end 2007.
A negative figure largely predictable, without wanting to do the Cassandras, owing to changes in the last six months the housing market, but it certainly weighed in the case of the holding company of Bicocca, from ' negative trend of the title at the Milan Stock .
to justify, at least in part, the down trend, the negative opinion on the draft of the restructuring of the real estate group, on 11 February after being left in the drawers of Pirelli vertices at least a couple of weeks, just to avoid the create a risk of backlash the Stock Exchange.
precautions would be unnecessary to say, with hindsight, as the thud of the title in Piazza Affari. If fact, in January, driven by speculation traders arrived in the title was € 5.31 per share, with a performance of +12.7% in one day, it took a few weeks to deflate and fall performance, session after session at ' € 1.91 per share .
But what is the project that the market just can not digest? First, the
staff reduction, with the group Pirelli Tyre (or the entire holding company) in 2009 announced a rather drastic slimming treatment for all employees in Western Europe: 15% in less than about 10,000 workers who were on staff at the end of 2008, or 1500 jobs that will go up in smoke ... Continue reading about
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