Italian Stocks: Ansaldo, Biesse, Bulgari, Fondiaria-SAI, Saipem Are Active

Italy’s benchmark FTSE MIB Index rose for a second day, adding 304.52, or 1.4 percent, to 22,311.52 at the 5:30 p.m. close in Milan.

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

Ansaldo STS SpA (STS IM) jumped 3.6 percent to 11.13 euros. Societe Generale SA upgraded the stock to “buy” from “hold” after Finmeccanica SpA’s (FNC IM) railway-technology unit said 2010 sales rose to 1.28 billion euros ($1.76 billion), beating the 1.26 billion-euro average estimate of 13 analysts in a Bloomberg News survey. Finmeccanica’s shares rose 1.3 percent to 9.80 euros.

Banca Popolare di Milano Scrl (PMI IM) snapped a two-day drop, rising 2.7 percent to 3.07 euros as a gauge for European banks was among the best performing of 19 industry groups in the benchmark Stoxx Europe 600 Index.

Intesa Sanpaolo SpA (ISP IM) increased 4.9 percent to 2.45 euros. Unione di Banche Italiane ScpA (UBI IM) rose 3.4 percent to 7.45 euros.

Biesse SpA (BSS IM) soared 4.6 percent to 5.75 euros, its highest in more than three months. Banca Akros upgraded the Italian woodcutting-machine maker to “buy” from “hold.”

Bulgari SpA (BUL IM) surged 2.1 percent to 7.7 euros after the world’s third-largest jeweler said fourth-quarter revenue climbed 21 percent to 357.8 million euros, beating the 336.7 million-euro average estimate of nine analysts in a Bloomberg News survey. The Rome-based company also exceeded its full-year sales forecast.

Natixis Securities lifted its recommendation on Bulgari to “neutral” from “reduce.”

Diasorin SpA (DIA IM) rose 4.8 percent to 34.89 euros, a second day of gains. Mediobanca Securities reiterated an “outperform” recommendation on the supplier of diagnostic tests.

Fiat Industrial SpA (FI IM) dropped 4.5 percent to 10.18 euros after gaining 10 percent in two days. Shares of the company, whose main assets are truck and tractor makers Iveco SpA and CNH Global NV, tracked losses in CNH shares in New York trading after quarterly results.

“Fiat Industrial slightly missed on CNH but we believe this is mainly, if not only, due to launch costs,” Nomura Holdings Inc. wrote in a note after today’s result.

Fondiaria-SAI SpA (FSA IM) gained for a second day this week, adding 2 percent to 6.99 euros. HSBC Holdings Plc upgraded the Italy’s second-biggest insurer to “neutral” from “underweight.”

The company said that Chief Executive Officer Fausto Marchionni resigned and will be replaced by Emanuele Erbetta.

Fondiaria also said it expects net income will exceed 50 million euros this year, according to a statement.

Parmalat SpA (PLT IM) rose 1.1 percent to 2.29 euros after climbing 5.5 percent yesterday. Equita Sim SpA added Italy’s largest dairy company to its “main portfolio.”

Saipem SpA (SPM IM), Europe’s largest oilfield-services provider, advanced 1.1 percent to 36.6 euros, rising for a second day. Societe Generale reiterated a “buy” rating on the stock, saying in a note that “2011 is likely to be a strong year for Saipem.”

Saras SpA (SRS IM) climbed 8 percent to 1.83 euros, the highest in almost nine months. JSC Gazprom Neft plans to spend as much as 130 billion rubles ($4.4 billion) to expand and upgrade three refineries in Russia by 2020, said Igor Barsukov, head of its unit for refining and petrochemical development.

The company will decide how to allocate the investment by the end of the year, he said at a conference in Dubai today. It is “considering” buying four or five refinery assets in the U.K., Italy, Germany, and France. Italy’s Saras SpA is “on the list,” Barsukov said.

Intermonte Sim SpA upgrade the stock to “speculative buy” from “underperform.”

STMicroelectronics NV (STM IM) increased 4.8 percent to 8.92 euros, extending a 4.4 percent advance yesterday. Europe’s largest chipmaker was upgraded to “add” from “reduce” at AlphaValue.

STMicro also had its price estimate lifted by 18 percent to $16 at Exane BNP Paribas and raised to 10.5 euros from 9.6 euros at Royal Bank of Scotland Group Plc and to 9.8 euros from 9.5 euros at UniCredit Research.

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.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.