Eni Set to Further Increase Quarterly Share Buyback
Dow Jones09-25
1147 GMT - Italian oil major Eni will likely increase its quarterly share buyback again as it benefits from higher commodity prices, HSBC's Kim Fustier writes in a note. The upgrade is expected alongside its third-quarter or fourth-quarter results, and would follow an increase to 3.4 billion euros in the second quarter. HSBC now assumes an increase to 3.7 billion euros but it could be even larger, potentially hitting 4 billion euros, Fustier says. For 2027, Eni is expected to buy back 4.3 billion euros of shares from a prior forecast of 2.5 billion euros, she says. Shares fall 1.5% to 24.01 euros.
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