Italy’s FTSE MIB Index gained 75.49, or 0.4 percent, to 19,311.75 in Milan. The gauge lost 1.2 percent in June and 15 percent in the second quarter.
The following stocks were among the most active in the Italian market today.
Amplifon SpA (AMP) advanced 16.75 cents, or 4.6 percent, to 3.8 euros, its second gain this week. Jefferies Group Inc. initiated coverage of the world’s largest hearing-aid distributor with a “buy” rating and a price estimate of 4.7 euros.
Autogrill SpA (AGL) rose 36.5 cents, or 3.8 percent, to 9.86 euros, paring yesterday’s 5.3 percent decline. Credit Agricole Cheuvreux SA kept the world’s biggest manager of airport and highway restaurants as one of its best picks among Italian companies, because of the company’s “increasing cash generation from lower competition, exposure to traffic rebound, cheap valuation.”
Banca Generali SpA (BGN) increased 21.5 cents, or 2.8 percent, to 7.88 euros after sinking 5 percent yesterday. Equita Sim SpA added the asset-management arm of Assicurazioni Generali SpA (G) to its “small-cap focus list.”
Intesa Sanpaolo SpA (ISP) and UniCredit SpA (UCG) , Italy’s biggest banks, increased 2.1 percent to 2.19 euros and 0.8 percent to 1.84 euros, respectively. The European Central Bank said it would lend European banks 131.9 billion euros ($162 billion) for three months, a lower figure than economists had forecast.
Landi Renzo SpA (LR) rose 3.25 cents, or 1.1 percent, to 3 euros, its second increase this week. Banca Akros upgraded the maker of injection systems for alternative fuels to “hold” from “reduce,” while trimming its price estimate to 3 euros from 3.7 euros.
Sogefi SpA (SO) advanced 7.5 cents, or 3.8 percent, to 2.04 euros, erasing yesterday’s losses. The car-parts maker controlled by financier Carlo De Benedetti forecast $20 million of revenue in the U.S. in 2011 as it started production of engine filters for Chrysler, Fiat SpA (F), and Ford Motor Co cars in its Prichard, West Virginia plant today, according to a statement distributed by the Italian exchange.
Tenaris SA (TEN) , the world’s biggest maker of seamless steel tubes for oil and gas extraction, dropped 25 cents, or 1.7 percent, to 14.31 euros. “The shares suffer from the likely capex slowdown in the Gulf of Mexico,” said Alberto Magnani, a fund manager at Abbacus Sim SpA in Genoa, Italy.
To contact the reporter on this story: Francesca Cinelli in Milan at firstname.lastname@example.org.