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Enel stock rose sharply (+3.8%) after the quarterly report

Enel stock rose sharply (+3.8%) after the quarterly report

Wonderful day for Enel In Ftsimibe. the address It gained 3.8% to 6,755 eurosThis is after it ranged between a minimum of 6.52 euros and a maximum of 6.76 euros. Trading volumes were high: 93.3 million shares were traded throughout the day.

The electricity giant announced its financial results for the first quarter of 2024, a period that saw a decline in revenues and a strong improvement in profitability. Debts are increasing. Enel management confirmed financial targets for fiscal year 2024 Furthermore, Enel announced that subsidiary Enel Peru has completed the sale of all investments held in Enel Generación Perù and Compañía Energética Veracruz to Niagara Energy. The cost of the operation is about 1.3 billion dollars (about 1.2 billion euros). This process resulted in a reduction in the Group’s net consolidated debt of approximately €1.2 billion in 2024, which is in addition to approximately €400 million recognized in 2023.

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