Milan Benchmark Stocks Gain; Intesa Sanpaolo, Telecom Italia, Saipem Move

Italy’s benchmark FTSE MIB Index gained 187.78, or 0.8 percent, to 23,291.65.

The following companies rose or fell in the Italian stocks market today. Stock symbols are in parentheses.

Intesa Sanpaolo SpA (ISP IM) gained 1.8 percent to 2.79 euros and UniCredit SpA (UCG IM) advanced 2.3 percent to 2.27 euros. Bank shares rose in Europe after European governments offered Greece a rescue package worth as much as 45 billion euros ($61 billion) at below-market interest rates.

Saipem SpA (SPM IM) rose 1.7 percent to 29.99 euros after Natixis upgraded the stock to “buy” from “add,” saying earnings growth will reach 20 percent from 2011 to 2012.

Telecom Italia SpA (TIT IM) climbed 1.9 percent to 1.09 euros. The phone company aims to get at least 1 billion euros to 1.5 billion euros from potential asset sales, La Stampa reported, without saying where it got the information. The company is scheduled to announce its latest business plan tomorrow.

Separately, Exane BNP Paribas upgraded the shares to “neutral” from “underperform.”

To contact the reporter on this story: Adam Haigh in London at

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