0951 GMT - Exor's move to reduce its stake in Ferrari shouldn't be seen as a negative signal on the Italian sports-car maker, ING analysts say in a research note. In late 2023, Exor flagged that at some point "it would need to act on its Ferrari participation, due to concentration risk, from a risk management point of view." At the same time, Exor's buyback plan is a positive for the investment company, in that it confirms its willingness to allocate part of its free cash flow. Exor trades up 0.05% at 93.80 euros, and Ferrari is down 7.6% at 446.20 euros. (sarah.sloat@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 04:52 ET (09:52 GMT)
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