5 Italian Stocks To Consider For Columbus Day

Columbus Day has sparked controversy in recent years as historians re-evaluate the legacy of Christopher Columbus. The stock market ignores this celebration – it shares the distinction as being one of the two federal holidays when the NYSE and NASDAQ are open for business, with Veterans Day being the other.

But for those who celebrate the accomplishments of the Genoese explorer, the importance of his voyages, here are five Italy-based stocks that seem like appropriate choices for this distinctive day of discovery.

Assicurazioni Generali S.p.A. ARZGY: Founded in 1831 and headquartered in Trieste, this financial services company focuses on insurance products and services and also provides equity and fixed-income funds, alternative products and investment and wealth management services. It primarily focuses on the European market, although it also has a presence the Americas and Asia.

CEO Philippe Donnet recently committed the company to investing $3.47 billion in sustainable and green bonds by the end of 2022. Two weeks ago, Donnet was reappointed as chief executive by the board of directors.

This company’s stock arrived on Columbus Day trading at $11.03, closer to its 52-week high of $11.25 than its 52-week low of $6.55.

Eni S.p.A. E: Founded in 1953 and headquartered in Rome, this oil and gas company operates in 66 countries. The Italian government owns a 30.33% stake in the company,

Last month, the company announced it made a major oil discovery offshore from Ivory Coast, with a potential range of 1.5 to 2 billion barrels of oil and 1.8 to 2.4 trillion cubic feet of associated gas. One month earlier, it began production from the Cuica field off the coast of Angola. It is also expanding its energy portfolio into renewables — in July, it acquired four wind projects and five solar developments in Spain with a combined capacity of 1.2 gigawatts.

Eni began Columbus Day trading at $27.46, just a hair under its 52-week high of $27.65 and far from its 52-week low of $13.36.

Ferrari N.V. RACE: Founded in 1947 and is headquartered in Maranello, this company’s name is synonymous with luxury sports cars.

Two months ago, the company reported that its shipments during the second quarter surpasses he pre-pandemic 2019 levels — a strong sign the company has the pandemic’s tumult in its rearview mirror. Ferrari Chairman and acting CEO John Elkann expressed an eagerness to meet potential European Union regulations banning new gas-powered vehicles starting in 2035, stating that the “opportunity set by electrification, electronics and other technologies that are coming available will allow us to make even more distinct and unique products.”

Ferrari started the day trading at $212.91, closer to its 52-week high of $233.66 than to its 52-week low of $176.29.

Natuzzi S.p.A. NTZ: Founded 1959 and is headquartered in Santeramo, Natuzzi designs, manufactures and markets leather and fabric upholstered furniture through a global network of company-owned and franchised stores.

Natuzzi recently named Antonio Achille, the former global head for the luxury practice at McKinsey & Co. as CEO, the first new chief executive since Pasquale Natuzzi launched his eponymous company.

The company is moving beyond the pandemic’s stranglehold. During its second quarter, written orders in North America were up 138.7% year-over-year and also up 27% from the same period in pre-pandemic 2019.
Natuzzi welcomed Columbus Day by trading at $18.01, closer to its 52-week high of $23.11 than to its $2.49 52-week low.

Stevanato Group S.p.A. STVN: Founded in 1949 and based in Piombino Dese, this company is involved in the design, production, and distribution of products and systems for the pharmaceutical and health care industries.

Stevanato joined the NYSE in July, with a valuation of $5 billion. Last week, the company announced plans to begin construction on a $145 million, 370,000-square-foot manufacturing facility in Fishers, Indiana, with a completion goal of 2023. The new facility will support the expansion and production of Stevanato Group’s EZ-Fill pre-sterilized drug containment systems for pharmaceutical use.

Stevanato began trading today at $24.04, closer to its year-to-date high of $29.18 than to its low of $16.61.

Photo: “1492: Conquest of Paradise,” courtesy of Paramount Pictures.