Market Movements in Italy After Change of Regulations

Some market movements in the Italian gas have been announced in the last hours.

After reaching a six-month low on Wednesday, Snam’s shares bounced back on news of a possible sale of its stake in gas distribution network Italgas. At the same time, UBS upgraded Snam’s shares from neutral to buy on the “positive” change of the regulatory framework about gas transportation.

On Thursday, Eni and AcegasAps concluded an agreement signed on September 30 for a reshuffle of shareholdings in two regional energy companies. The antitrust authorities authorised Eni’s 100% control of Est Più and AcegasAps 100% control of Est Reti Elettriche. 

‘Through these deals, Eni has sold a “non-core‘ business (energy distribution), to focus – in line with its corporate mission – on the sale of gas and power, a market in which it boasts long-standing experience,’ reads a note released on Thursday.