Oil prices support oil stocks, Eni and Saipem do well

(Il Sole 24 Ore Radiocor) Oil at $100 continued to support energy stocks, among the few positives in a context of high risk aversion due to the war in Iran. The sector's Stoxx sub-index rose in Europe, posting the best performance of the day. The blockade of the Strait of Hormuz, on the other hand, continues to cast a shadow over energy supply prospects despite the measures being considered by Western governments to curb the run-up in energy prices. At Piazza Affari, purchases thus rewarded first and foremost Saipem and Eni, but also utilities such as Enel, Hera and Snam Rete Gas. Since the beginning of the month (the first attacks by the US and Israel in Iran took place on 28 February), the sector sub-index gained 6.18%, compared to -6.94% for the Eurostoxx 50. On the Milanese list in the same period, the Ftse Mib lost 6.07%, while Eni can count on a balance of +13.02%, surpassed only by Leonardo - Finmeccanica (+13.59%), rewarded along with the Defence stocks, is Lottomatica (+19.08%), which took advantage of the balance sheet data. Among energetic stocks since the beginning of the month, Tenaris (+0.61%) was also positive, while Saipem recorded an overall drop of 5.68%.