Italian Stocks: Azimut, Coin, Fondiaria, Intesa, STM, Yoox

Italy’s benchmark FTSE MIB Index rebounded from the lowest level since August, rising 419.05, or 2.1 percent, to 20,510.02 at the 5:30 p.m. close in Milan.

The following stocks were among the most active in the Italian market today.

Azimut Holding SpA (AZM IM) advanced 2.7 percent to 7.33 euros, a second day of gains after Equita Sim SpA added Italy’s largest independent fund manager to its “recommended stock- picking portfolio,” saying in a note that “consensus is unduly pessimistic” and “expansion of the product range will aid acceleration of asset flows.”

Banca Monte dei Paschi di Siena SpA (BMPS IM) rose 2.6 percent to 1.03 euros as a gauge for European banking shares advanced for the first day in seven after Moody’s Investor Service said it’s impressed with Greece’s efforts to reform its finances.

Banca Popolare di Milano Scrl (PMI IM) surged 3 percent to 3.55 euros. Banco Popolare (BP IM) gained 2.7 percent to 4.42 euros. Intesa Sanpaolo SpA (ISP IM) advanced 3.7 percent to 2.4 euros. UniCredit SpA (UCG IM) increased 2.8 percent to 1.86 euros. Unione di Banche Italiane SCPA (UBI IM) gained 4.9 percent to 7.42 euros.

Brembo SpA (BRE IM) rose 3.1 percent to 7.58 euros, the highest in more than two years. BofA Merrill Lynch Global Research increased its price estimate on the world’s largest manufacturer of disk brakes to 9 euros from 7.5 euros. The shares rose 0.6 percent to 7.35 euros.

Buzzi Unicem SpA (BZU IM) increased to the highest in more than two months, rising 3.7 percent to 8.2 euros as construction shares gained across Europe. Shares of Italy’s second-biggest cement extended gains as they rose above their 100-day moving average.

Cairo Communication SpA (CAI IM) snapped a two-day loss, rising 1.1 percent to 2.78 euros. Gruppo Banca Leonardo increased its price estimate to 3.6 euros from 3.4 euros, citing “the most recent positive trend of LA7 audience share.” Cairo has an advertising contract with the television network “which should generate about 45 percent of consolidated sales in 2010.”

The brokerage also lifted its price estimate on Telecom Italia Media SpA (TME IM) to 40 euro cents from 37 euro cents because of the LA7 audience figures. Telecom Italia Media shares jumped 7.6 percent to 26.2 euro cents, a fourth straight increase.

EEMS Italia SpA (EEMS IM) climbed 2.9 percent to 1.44 euros, advancing for the first time in three days. The company that assembles and tests memory chips forecasts earnings before interest, tax, depreciation and amortization may be more than 40 million euros this year, according to a statement distributed by the Italian exchange.

Fondiaria-Sai SpA (FSA IM) gained the most in almost five months, rising 6.6 percent to 7.84 euros. Banca Akros reiterated an “accumulate” rating on Italy’s second-biggest insurer after French entrepreneur Vincent Bollore increased his stake in Premafin Finanziaria SpA (PF IM), which owns a controlling stake in Fondiaria, above the 2 percent threshold, according to market regulator Consob’s latest filings.

Milano Assicurazioni SpA (MI IM), a unit of Fondiaria, rose 4.9 percent to 1.42 euros, rebounding from the lowest in more than five weeks.

Gruppo Coin SpA (GCN IM) advanced for a third day, rising 4.5 percent to 7.75 euros. Apax Partners SA will consider making an offer for the department store chain, Apax Managing Director Giancarlo Aliberti told reporters today in Milan.

The Carlyle Group is also considering making a bid for Coin, said Marco De Benedetti, head of Washington-based Carlyle’s private equity business in Italy.

Indesit Company SpA (IND IM) rose for the first day in three, increasing 2.1 percent to 9.01 euros. Fidentiis Equities SV SA reiterated a “buy” recommendation on Italy’s biggest home-appliances maker.

Interpump Group SpA (IP IM) increased 4.2 percent to 4.76 euros, a first gain in four days. The world’s biggest maker of high-performance pumps said sales rose 23 percent to 314.8 million euros in the first nine months of 2010.

Luxottica Group SpA (LUX IM) ended a two-day decline, rising 1.6 percent to 19.96 euros after the world’s biggest maker of eyewear and Coach Inc. signed a licensing agreement for the design, manufacturing and global distribution of sun and prescription eyewear under the Coach, Coach Poppy and Reed Krakoff brands. The partnership starts in January 2012.

STMicroelectronics NV (STM IM), Europe’s biggest chipmaker, climbed 3.5 percent to 5.52 euros, rebounding from the lowest since August, as the Philadelphia Semiconductor Index snapped a three-day loss.

Yoox SpA (YOOX IM) jumped 5.9 percent to 7.85 euros, the biggest gain since June 14. Goldman Sachs Group Inc. increased its price estimate on the Internet fashion retailer to 11.5 euros from 9.3 euros.

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

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net

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