E - Eni: Bullish Outlook Reiterated Despite YTD Underperformance Q2 2019 EPS Miss
Eni (E), an Italian integrated energy company, continues to underperform as markets jitter amid anticipated global economic downturn; traders closely watch economic data trying to figure out what comes next, while unrelenting trade conflict tests the confidence of permabulls. Eni, a company that operates in a cyclical industry, is not immune to the shifts in the markets that stem from new trade barriers, especially from those that put pressure on demand for oil, fuels, and petrochemicals. Since January 2019, Eni has underperformed both the S&P 500 and the Italian market.
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