Leonardo snaps on stock market, market appreciates MoU in Arabia on aerospace and defence
According to Intesa analysts, the agreement should further strengthen the company's relationship with the Saudi Kingdom
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(Il Sole 24 Ore Radiocor) - Purchases on Leonardo - Finmeccanica, which topped the list at Piazza Affari. The share price was boosted by the announcement of the MoU signed with the Ministry of Investment and the General Authority for the Military Industry of Saudi Arabia aimed at developing investment and collaboration opportunities in the aerospace and defence sectors (including space, aerostructure maintenance, tracking for electronic warfare systems, radar and helicopters).
According to Equita, 'there are no assumptions about the revenue that can be generated and its timing, but we believe it could potentially be significant given the scope of the agreement'. Positive opinions also come from Intesa Sanpaolo analysts, who underline thatthe agreement should further strengthen Leonardo's relations with the Kingdom of Saudi Arabia "and open the way to new opportunities for collaboration and contracts, increasing medium-term visibility in the area".
