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Acea, Ansaldo, Eni, Hera, Maire, Saipem, Saras, Seat: Italy Equity Preview
The following companies may be active in Italian trading. Stock symbols are in parentheses and share prices are from the previous close.
Italy’s benchmark FTSE MIB gained 338.12, or 1.6 percent, to 21,158.08 in Milan.
Acea SpA (ACE IM): The Rome utility said first-half revenue rose 7.4 percent to 1.6 billion euros ($2.1 billion). The shares gained 1 percent to 8.67 euros.
Ansaldo STS SpA (STS IM): Goldman Sachs Group Inc. trimmed its price estimate on Finmeccanica SpA’s railway-technology unit to 15.4 euros from 15.42 euros. The shares sank 8.3 percent to 10.77 euros.
Hera SpA (HER IM): The regional utility said it was selling a 20 percent stake in Herambiente for 105.6 million euros. The shares rose 0.2 percent to 1.42 euros.
Maire Tecnimont SpA (MT IM): The company won a $400 million contract to provide services in Kuwait to the Kuwait National Petroleum Company. The shares rose 0.5 percent to 2.76 euros.
Saipem SpA (SPM IM): Standard & Poor’s Equity Research upgraded Europe’s largest oilfield-services provider to “buy” from “hold.”
Separately, Barclays Capital and BofA Merrill Lynch Global Research increased their price estimates to 38 euros from 36.5 euros and to 31 euros from 30 euros, respectively. The shares increased 0.6 percent to 27.5 euros.
Saras SpA (SRS IM): BofA Merrill Lynch Global Research downgraded the stock to “underperform” from “neutral.”
The owner of the largest oil refinery in the Mediterranean also had its price estimate trimmed to 2 euros from 2.1 euros at Goldman Sachs. The shares rose 0.6 percent to 1.57 euros.
Seat Pagine Gialle SpA (PG IM): Deutsche Bank AG lowered its price estimate on Italy’s largest phone directory publisher to 15 euro cents from 18 cents. The shares gained 2.5 percent to 13.55 euro cents.
The following are among companies scheduled to report results today:
Amplifon SpA (AMP IM), the world’s largest hearing-aid distributor, lost 0.8 percent to 3.81 euros;
Eni SpA (ENI IM), Italy’s biggest oil company, gained 0.7 percent to 15.84 euros;
Finmeccanica SpA (FNC IM), Italy’s biggest defense company, rose less than 0.1 percent to 8.78 euros.
To contact the reporter on this story: Steve Scherer in Rome at sscherer@bloomberg.net Francesca Cinelli in Milan at fcinelli@bloomberg.net.
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