December 9, 2009 / 9:02 AM / 8 years ago

STOCKS NEWS EUROPE-Juventus down after European exit

Shares in Juventus Football Club (JUVE.MI) fall 7 percent to a four-month low after the Turin club failed to qualify for the next stage of the European Champions League.

The stock is down on retail investors selling off the stock, a broker says.

The failure to reach the last 16 of the competition after Tuesday’s 4-1 loss to German team Bayern Munich will lose the Italian group 5 million euros in revenues and means the club may miss its breakeven target for the year to June 2010, he says.

“In January they may sell players and make capital gains so the result would not be negative. But I don’t know if that will happen,” he says, adding Juventus has invested strongly in players in the last couple of years.

A win in the Italian Serie A championship could boost retail investment interest in the stock but it would probably incur extra costs as players would gain additional prize payments, he adds.

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