CLOSING LONG ENEL

ENEL CMD on 17-19 strategic plan making all the right noises this morning.

Looking to cut annual costs to €10.6bn in 19 from €11.6 in 16. Aiming for Net income of €4.1bn in 2018, the mkt was at €3.8bn.

Aims to dispose of about EU3b of assets in the next 3 years and reinvest proceeds of up to EU4.5b, partly to buy minorities and a possible share buy-back.

All pretty positive considering the recent move and positioning.

Closing for +3.9%

 

ENEL TRADING BUY
CMD TOMORROW

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Monday • 21 November 2016 • 11:47

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ENEL is also worth a trade into the close today.

CMD tomorrow and they have been slaughtered with the rest of the sector but the Italians more than most due to the referendum.

I would be BUYING some to the close.