Assicurazioni Generali, Intesa, Parmalat May Move: Italian Equity Preview
The following companies may be active in Italian trading. Stock symbols are in parentheses and share prices are from the previous close.
Italy’s benchmark FTSE MIB Index fell 38.92, or 0.2 percent, to 21,984.99 in Milan.
Assicurazioni Generali SpA (G) : Italy’s stock market regulator Consob has asked Generali, the country’s largest insurer, to supply information on the terms of its deal with PPF Group NV, Il Sole 24 Ore reported, without saying where it got the information. Shares fell 0.6 percent to 15.23 euros.
Banco Popolare Scrl (BP IM): Italy’s third-biggest bank by branches reported 2010 net income of 308 million euros.
That compares with the 342.5 million-euro average forecast of 13 analysts in a Bloomberg survey. The company proposed a dividend of 3 euro cents. Banco Popolare had its price estimate trimmed to 2.5 euros at Nomura Holdings Inc. and Deutsche Bank AG. The shares rose 1.7 percent to 2.38 euros.
Parmalat SpA (PLT) : Ferrero SpA, maker of Tic Tac candies and Nutella spread, confirmed its interest in Italian dairy company Parmalat after a report that Intesa Sanpaolo SpA (ISP) is putting together a plan without it. Parmalat, Italy’s largest dairy company, gained 0.6 percent to 2.38 euros.
Intesa (ISP IM), Italy’s second-largest bank, slipped 0.3 percent to 2.28 euros.
Saras SpA (SRS) : BofA Merrill Lynch Global Research downgraded the refiner to “underperform” from “neutral.” The shares rose 1 percent to 1.84 euros.
Unione di Banche Italiane ScpA (UBI) : Societe Generale SA trimmed its price estimate on the lender to 7.5 euros from 8 euros. UBI is due to release results today. The shares added 0.1 percent to 7.01 euros.
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