Leonardo-Fincantieri Merger Not on the Agenda

The market is not anticipating a merger between Leonardo and Fincantieri, as indicated by recent statements from Leonardo's chairman. Both companies' stocks fell, with Leonardo down 0.7% and Fincantieri down 2.3%. Analysts from Banca Akros and Equita note that significant industrial synergies are unlikely due to Fincantieri's civil business dominance. Attention is now on Leonardo's upcoming fourth-quarter results, expected on February 25, with forecasts suggesting strong profitability and cash flow. Updates on a potential spin-off of the Aerostructures division are also expected in March.