Italian Stocks: Exor, Fiat, Meridiana, MPS, Pirelli, Safilo, UBI
Italy’s benchmark FTSE MIB Index fell 260.65, or 1.3 percent, to 20,513.51 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), Italy’s largest independent fund manager, dropped 1 percent to 6.73 euros as European stocks retreated after the longest stretch of weekly gains for the benchmark Stoxx Europe 600 Index since April.
Banca Generali SpA (BGN IM), the asset-management arm of Assicurazioni Generali SpA, declined 1.9 percent to 9.12 euros.
Banca Monte dei Paschi di Siena SpA (BMPS IM), Italy’s third-biggest lender, retreated 2.3 percent to 86.55 euro cents, the lowest in more than a week. A gauge for European banks declined for a fourth day.
Intesa Sanpaolo SpA (ISP IM) and UniCredit SpA (UCG IM), Italy’s biggest banks, lost 1.8 percent to 2.1 euros and 1.9 percent to 1.62 euros, respectively. Unione di Banche Italiane SCPA (UBI IM) dropped 1.8 percent to 6.76 euros.
Fiat SpA (F IM) lost 3.4 percent to 14.99 euros as automakers fell in Europe after China, the world’s largest car market, raised interest rates for the second time in just over two months. Pirelli & C. SpA (PC IM), Europe’s third-largest tiremaker, dropped 2 percent to 6.09 euros.
Exor SpA (EXO IM), Fiat’s main shareholder, dropped 1.8 percent to 24.41 euros.
Kinexia SpA (KNX IM) rose 6.4 percent to 2.21 euros, extending gains of 8.2 percent on Dec. 23. Intermonte Sim SpA reiterated a “buy” rating after the company said it completed the construction of a photovoltaic plant.
Meridiana Fly SpA (MEF IM) climbed 8.7 percent to 4.89 euro cents, the highest in 1 1/2 months. The airline extended its 15 million-euro term loan to November 2013 and signed a new financing agreement.
Safilo Group SpA (SFL IM) increased 1.3 percent to 13.77 euros, erasing losses in Dec. 23. The world’s second-largest maker of eyeglass frames sold its 60 percent stake in retail activities in Mexico.
Seat Pagine Gialle SpA (PG IM) dropped 1.6 percent to 8.51 euro cents. Equita Sim SpA reiterated a “reduce” rating on Italy’s biggest phone-directory publisher after Standard & Poor’s cut the company’s long-term corporate credit rating to B- from B on concern about its ability to meet debts.
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