April 16 (Bloomberg) -- Italy’s benchmark S&P/MIB Index rose for a second day this week, adding 69, or 0.4 percent, to 17,880 as of 9:43 a.m. in Milan.

The following stocks were among the most active on the Italian market today. Symbols are in parentheses.

Assicurazioni Generali SpA (G IM) added 26 cents, or 1.8 percent, to 14.53 euros, a fifth session of gains. Italy’s biggest insurer will maintain its plan to expand in eastern Europe, though 2009 will be a “tough” year, Co-Chief Executive Officer Sergio Balbinot told Il Sole 24 Ore.

Banca Generali SpA (BGN IM), Generali’s asset management unit, advanced 18 cents, or 5.7 percent, to 3.32 euros, paring yesterday’s losses. “Banca Generali disclosed yesterday net inflows of 39 million euros ($51.4 million) for March, taking the first-quarter total to 113 million, a relatively positive performance compared with first quarter 2008 given the very different market conditions,” Mediobanca Securities analyst Gianluca Ferrari wrote in a note.

Fiat SpA (F IM) gained for a fifth session, increasing 28 cents, or 4 percent, to 7.29 euros. Europe’s car market slump slowed to a 9 percent drop in March, an 11th straight monthly decline, as government-backed sales incentives boosted demand for Fiats and Volkswagens in Germany and France.

Mediobanca Securities, which said today’s news flow on European car sales is positive for Fiat, increased its price estimate on Fiat to 5.9 euros from 3.3 euros.

Gruppo Editoriale L’Espresso SpA (ES IM) fell for the first time this week, losing 1.7 cents, or 1.9 percent, to 86.95 cents. Citigroup Inc. cut its price estimate on the Italian publisher controlled by Carlo De Benedetti to 0.8 euros from 1 euro and kept a “sell” recommendation. Exane BNP Paribas lowered its price projection to 0.8 euros from 0.9 euros and left its “neutral” rating unchanged.

Mediaset SpA (MS IM) dropped 10 cents, or 2.5 percent, to 3.85 euros, a first day of losses this week. Goldman Sachs Group Inc. downgraded Gestevision Telecinco SA to “neutral” from “buy.” The television company controlled by Italian Prime Minister Silvio Berlusconi owns a 52 percent stake in Telecinco.

Kepler Capital Markets said in a note to investors today that Mediaset’s share price rebound is “unjustified.”

Saipem SpA (SPM IM), Europe’s largest oil-field services contractor by market value, increased 41 cents, or 2.9 percent, to 14.75 euros. Crude oil rose for the first time in a week as equities in the U.S., the world’s biggest oil user, rallied and the Federal Reserve said some of the country’s biggest regional economies slowed the pace of their decline.

Saras SpA (SRS IM), the owner of the Mediterranean region’s biggest refinery, rose for a second day, adding 5 cents, or 2.3 percent, to 2.23 euros. Barclays Capital initiated coverage of the stock with an “overweight” rating. The brokerage initiated coverage also of ERG SpA (ERG IM), Italy’s biggest crude oil refiner by sales, with an “equal weight” recommendation. Erg shares fell 4 cents, or 0.4 percent, to 11.25 euros.

STMicroelectronics NV (STM IM) slid for a second day this week, losing 6.75 cents, or 1.5 percent, to 4.55 euros. Europe’s largest chipmaker plans to cut its quarterly dividend 67 percent to 3 cents a share, citing the need to “maintain a solid financial foundation.”

Nokia Oyj, the world’s largest maker of mobile phones, reports earnings. Nokia is STMicro’s main client.

Tiscali SpA (TIS IM) lost 1.6 cents, or 4.5 percent, to 34.2 cents, after falling 6.4 percent yesterday. Tiscali’s business operations and financial structure are not sustainable, Cheuvreux said in a note to investors today.

The Italian Internet provider said yesterday that Ernst & Young “can’t express an opinion on its 2008 results.”

Unipol SpA (UNI IM) rose to the highest in more than seven weeks, adding 2.35 cents, or 3 percent, to 80.85 cents. Italy’s fourth-biggest insurer will probably post a profit in the first quarter, according to Chief Executive Officer Carlo Salvatori.

Salvatori said he expects premium growth to slow this year and he is “satisfied” with the first part of 2009.

To contact the reporter on this story: Francesca Cinelli in Milan at fcinelli@bloomberg.net

Last Updated: April 16, 2009 03:50 EDT