Italian Stocks Gain; Azimut, Buzzi Unicem, Exor, Telecom Italia, UBI Move

Italy’s benchmark FTSE MIB Index rose 288.38, or 1.4 percent, to 21,469.19 at the 5:30 p.m. close in Milan, erasing this week’s losses.

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

Amplifon SpA (AMP IM) dropped 1.6 percent to 3.7 euros, a fourth decline. The company said it raised 72.4 million euros ($103 million) in a sale of shares at 3.65 euros apiece, according to a statement through the Italian exchange today.

Azimut Holding SpA (AZM IM), Italy’s largest independent fund manager, gained for the first time this week, rising 4.7 percent to 7.39 euros as the Stoxx Europe 600 Index gained as much as 1.8 percent, taking the measure to a six-month high.

Banca Monte dei Paschi di Siena SpA (BMPS IM) increased 2.1 percent to 97.2 euro cents as banking shares were among the best performers in Europe today. Banca Popolare di Milano Scrl (PMI IM) added 1.5 percent to 3.27 euros. Banco Popolare SC (BP IM) advanced 0.3 percent to 3.72 euros. Intesa Sanpaolo SpA (ISP IM) and UniCredit SpA (UCG IM), Italy’s biggest banks, increased 1.5 percent to 2.49 euros and 2 percent to 1.84 euros, respectively. Unione di Banche Italiane SCPA (UBI IM) jumped 2.5 percent to 7.64 euros.

Buzzi Unicem SpA (BZU IM), Italy’s second-biggest cement maker, surged 5.1 percent to 8.8 euros, its steepest advance since June. German rival HeidelbergCement AG said its third- quarter profit more than doubled.

Italcementi SpA (IT IM), Italy’s biggest cement maker, increased 2.9 percent to 6.39 euros.

Davide Campari-Milano SpA (CPR IM) advanced 2 percent to 4.59 euros, gaining for the second day this week. Deutsche Bank AG increased its price estimate on the distiller to 4.60 euros from 4.20 euros.

Enel Green Power SpA (EGPW IM) was unchanged at 1.6 euros on the first day of trading for the shares of the renewable energy company. “We would look for an entry point in the 1.40 euro area,” Fidentiis Equities SV SA said in a note.

Fiat SpA (F IM) advanced for a second day, rising 2.7 percent to 12.52 euros. UniCredit Research reiterated its “buy” rating on the carmaker, highlighting in a note that Chrysler Group LLC’s 37 percent year-on-year increase in volumes sold in the U.S. in October “represents another support for a likely upward revision of 2010 guidance.”

Exor SpA (EXO IM), Fiat’s main shareholder, gained 4.4 percent to 19.84 euros.

Finmeccanica SpA (FNC IM) dropped 2.9 percent to 9.55 euros. Italy’s biggest defense company said third-quarter net income was little changed at 112 million euros from 111 million euros a year earlier. Intermonte Sim SpA downgraded the stock to “neutral” from “buy,” citing “broadly in line results” and the shares’ performance.

Pirelli & C. SpA (PC IM) added 1.1 percent to 6.16 euros after two days of losses. Europe’s third-largest maker of tires aims to raise its profit margin by investing 1.9 billion euros in new plants in emerging markets including Mexico and Russia.

Pirelli forecast that earnings before interest, taxes and restructuring costs will climb to as much as 12 percent of sales in 2013 from about 8.8 percent this year.

Telecom Italia SpA (TIT IM) sank 3.5 percent to 1.06 euros, the stock’s worst performance in three months, after Italy’s biggest phone company said nine-month domestic sales fell 7.4 percent to 15 billion euros and Italian mobile revenue dropped more than 10 percent.

The shares suffered from “weak domestic mobile,” said Gian Paolo Rivano, a fund manager at Gesti-Re SGR SpA in Milan.

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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