Stellantis rises after positive data on new car registrations in Italy, US
Milan-listed shares in Stellantis STLAM.MI rise as much as 3.9% after data showed on Wednesday new car registrations went up both in the U.S. and in Italy last month
The automaker's rise is driven by Stellantis' new car registrations in March, above market average both in Italy and in the United States, a Milan based trader told Reuters
"Given the weak start to the year of the U.S. car market, we see Stellantis’ U.S. Q1 sales as a confirmation of the gaining momentum of the group," Intesa Sanpaolo says
Both Intesa Sanpaolo and Equita note Stellantis outperformed the Italian market only by including China's Leapmotor 9863.HK, and the automaker remains weak in France
Equita adds it expects a further recovery of Stellantis' volumes in Q2, especially in the U.S., but it warns the market is exposed to the risk of slowdown depending on geopolitical evolution
Including Thursday's rise, shares are down 31.28% YTD
