BUZZ-Ferrari rises after 'confident as ever' pre-Q2 call

Reuters
06-25
BUZZ-Ferrari rises after 'confident as ever' pre-Q2 call

** Milan-listed shares in Ferrari RACE.MI rise as much as 4% after the Italian luxury car maker held late on Tuesday a briefing call ahead of its Q2 results on July 31

** Ferrari's pre-close "points to another assured, mix-enabled quarter to come", brokerage Jefferies notes

** Jefferies estimates Q2 inc fx EBIT growth of about 10% y/y to 559 million euros, slightly ahead of consensus of 545 million

** "The pre-close process was more descriptive than usual, confirming that US price rises will only have an impact from Q3", it adds

** "The tone remained as confident as ever", brokerage Bernstein says

** As of 0750 GMT, Ferrari shares are up 3.7%, among the top movers on the pan-European STOXX 600 .STOXX index

(Reporting by Philippe Leroy Beaulieu in Gdansk)

((Philippe.leroybeaulieu@thomsonreuters.com))

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