Italian Stocks: Biancamano, Gemina, Mediaset, RCS Shares Move

Italy’s benchmark FTSE MIB Index fell 24.16, or 0.1 percent, to 20,610.44 at 1:10 p.m. in Milan.

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

Acea SpA (ACE IM) fell 1.5 percent to 8.53 euros after the Rome-based utility had its price estimate lowered to 9 euros from 9.50 euros at BofA Merrill Lynch Global Research.

Banco Popolare SC (BP IM) declined 1.2 percent to 3.48 euros, as banking stocks were among the worst performers in Europe today.

Biancamano SpA (BCM IM) climbed 3.6 percent to 1.37 euros, its biggest gain in almost two weeks, after winning a 7.5 million-euro ($10.1 million) contract for waste management from the city of Cusano Milanino in the Lombardy region.

Gemina SpA (GEM IM) dropped 3.1 percent to 5.2 euro cents, as CA Cheuvreux cut the owner of Rome’s airports operator to “outperform” from “selected list.”

Mediaset SpA (MS IM), the broadcaster owned by Italian Prime Minister Silvio Berlusconi, slid 1.1 percent to 4.44 euros before Berlusconi’s confidence vote in Italy’s lower house.

“The shares are affected by some tension today,” Alessandro Frigerio, a fund manager at RMJ Sgr in Milan, said.

RCS MediaGroup SpA (RCS IM), the publisher of Italy’s largest daily newspaper, fell 2.2 percent to 1.07 euros. Centrobanca SpA reiterated a “sell” rating on the stock.

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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