Brake maker Brembo’s blue chip debut blazes trail for Italy’s niche firms

MILAN, Oct 6 (Reuters) Italian premium brakes maker Brembo debut on the Milan blue chip index on Thursday highlights the canada goose clearance sale stark contrast between some of the country lesser known 2018 canada goose canada goose outlet store locations companies and its dismal overall stock market performance.

Italy is Europe worst performing market so far this year canada goose deals and some foreign investors have been so transfixed by cheap Canada Goose the https://www.topcanadagoose.ca Southern European country macro economic risks and political turmoil they have buy canada goose jacket missed the rise of niche firms like Brembo.

The benchmark FTSE MIB has slid 23 percent this year, canada goose clearance compared with a 19 percent rise in Brembo shares and a 14 percent fall in the FTSE Italia Mid Cap index.

Worries about banks and a stalling economic recovery have been compounded by uncertainty around a Dec. 4 referendum on constitutional reform, making investors wary.

But firms like Brembo, which supplies brake discs and callipers for road and racing cars canadian goose jacket for automakers such as Ferrari and Porsche, tell a different story. based canada goose black friday sale Evermore Global Advisors, said Canada Goose Parka Italy had long been neglected, but now the country was undergoing big changes with firms improving canada goose coats on sale the quality of their management and focusing their businesses canada goose replica more canada goose store than ever before.

has been a tomorrow story for many, many years but these are fantastic times to be doing your homework because so many investors are not looking there, he said. are not required to invest there, but we Canada Goose Online want to. So over canada goose time we will have more in Italy, not less.

Brembo has been canada goose outlet toronto factory surprising investors with better than expected Canada Goose online results quarter after quarter buy canada goose jacket cheap and its focus on the higher margin premium market has helped it weather the storm that hit the auto industry following the 2008 financial crisis.

A firm that grew from a family run mechanics workshop in 1961 to a multinational with 7,700 staff across 16 countries is now expanding into aerospace as a new revenue stream.

Brembo core profit margin topped 17 percent last year, while comparable Canada Goose Outlet stocks such as Italian car parts maker Sogefi had a 7.7 margin and German tyre and auto components maker Continental had a margin of 15.3 percent.

Brand strength, technological know how and a focus on exports are catching the attention of traders and fund managers who highlight companies such as hearing aids maker Amplifon, small appliance manufacturer De Longhi, upmarket exercise machine maker Technogym or Energica Motor, which produces supersport electric motorcycles.

Companies like air traffic controller Enav whose business is canada goose coats regulated are also attracting interest, 2018 canada goose outlet they said, although December referendum, which will decide on a constitutional reform being pushed by Prime Minister Matteo Renzi, looms large and investors may wait for that to clear Canada Goose sale out before making big bets.

Piergiacomo Braganti, head of investments at Banca Albertini Syz Co, which manages Canada Goose Coats On Sale around 3 billion euros ($3.4 billion), said that while a vote in the referendum could hit the battered banking sector hardest, there could also be a spillover to other more promising sectors.

there another Canada Goose Jackets indiscriminate sell off we would be ready to buy companies that have a competitive advantage or operate in regulated businesses, Braganti said. ($1 = 0.8956 euros) (Additional reporting by Agnieszka Flak; Editing by Alexander Smith).