0939 GMT - Eni's 3Q earnings were better than market expectations, boosted by gas trading and lower tax, Citi analysts say in a note. The Italian energy company lifted its buyback guidance by 25% thanks to asset sales and a lower payout ratio compared with rivals, the analysts say. Its share valuation is now 5%-10% higher than European oil peers like TotalEnergies, Shell, and BP, which is unusual compared to past trends and likely limits potential for further gains, they say. Shares are up 0.7% at 14.32 euros. (christian.moess@wsj.com)
(END) Dow Jones Newswires
October 25, 2024 05:40 ET (09:40 GMT)
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