Italian Stocks: Prysmian, Telecom Italia, Pirelli, Diasorin Move
Italy’s benchmark FTSE MIB Index rose 400.98, or 1.8 percent, to 22,349.71 at the 5:30 p.m. close in Milan, trimming this week’s decline to 3.1 percent.
The following stocks were among the most active in the Italian market today.
Banca Monte dei Paschi di Siena SpA (BMPS IM) climbed 2.5 percent to 98.3 euro cents after Nomura Holdings Inc. raised the stock to “neutral” from “reduce.”
Diasorin SpA (DIA IM) gained 1.3 percent to 32.87 euros after Banca Profilo SpA raised its price estimate for the supplier of diagnostic tests.
Pirelli & C SpA (PC IM) increased 2.1 percent to 5.78 euros. Europe’s third-largest tiremaker said it will invest about 300 million euros ($415 million) in China over the next three years to tap rising demand in the world’s biggest vehicle market.
Telecom Italia SpA (TIT IM) rallied 5.2 percent to 1.10 euros, the largest gain since May. Italy’s biggest phone company reported 2010 net income of 3.12 billion euros said it expects a 15 percent annual increase in its dividend through 2013. CA Cheuvreux raised its rating on the stock to “underperform” from “sell.”
UniCredit SpA (UCG IM) gained 1.9 percent to 1.87 euros. Italy’s competition regulator approved the purchase of UniCredit MedioCredito Centrale SpA by Poste Italiane.
To contact the reporter on this story: Giles Broom in Zurich at email@example.com.