Eni, Enel, Finmeccanica, Intesa, Paschi 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 (FTSEMIB) rose for a second day, gaining 40.04, or 0.2 percent, to 22,007.81 in Milan.

Assicurazioni Generali SpA (G) : The insurer said in a stock-exchange statement that Ana Patricia Botin resigned as a non executive director because her appointments in Banco Santander SA (SAN SM) made it difficult to perform her duties. The shares decreased 0.8 percent to 15.41 euro.

Banca Monte dei Paschi di Siena SpA (BMPS) : The Siena- based lender said in a stock-exchange statement that its Tier 1 ratio rose by 40 basis points to 8.8 percent at March 31.

Exane BNP Paribas initiated coverage with an “underperform” rating. The shares fell 1.9 percent to 87.5 euro cents.

Banca Popolare dell’Emilia Romagna Scrl (BPE) : Exane rated the bank an “outperform.” The shares declined 0.1 percent to 8.58 euros.

Banca Popolare di Milano Scrl (PMI IM): Exane rated the banks an “outperform” in new coverage. The shares dropped 1.8 percent to 2.66 euros.

Banco Popolare SC (BP) : Exane initiated coverage of the stock with an “underperform” rating. The shares lost 1 percent to 2.11 euros.

Buzzi Unicem SpA (BZU) : Gruppo Banca Leonardo downgraded Italy’s second-biggest cement maker to “sell” from “underweight.” The shares gained 0.4 percent to 10.07 euros.

Credito Emiliano SpA (CE) : Exane initiated coverage of the lender with a “neutral” rating. The shares rose 0.4 percent to 4.65 euros.

Eni SpA (ENI) , Enel SpA (ENEL) and Finmeccanica SpA (FNC) : The Italian government replaced the chairmen of the country’s biggest oil and power companies and the chief executive officer of the defense company, the Treasury said in an e-mailed statement.

Eni gained 0.5 percent to 17.74 euros. Enel rose 1.1 percent to 4.55 euros. Finmeccanica increased 1.5 percent to 9.07 euros.

Exor SpA (EXO) : Oddo Securities initiated coverage of Fiat’s main shareholder with a “neutral” rating. The shares gained 2.4 percent to 22.87 euros.

Intesa SanPaolo SpA (ISP) : The bank’s management and supervisory boards meet to approve the business plan and will make a decision on a proposed capital increase. Intesa may raise about 5 billion euros by selling shares to existing investors, said two people with knowledge of the matter.

Exane initiated coverage of the stock with an “outperform” rating. Intesa gained 1 percent to 2.13 euros.

Parmalat SpA (PLT) : Groupe Lactalis is evaluating whether to make a takeover bid for Parmalat SpA or sell its 29 percent holding, daily Il Sole 24 Ore reported, without saying where it got the information. The shares declined 0.9 percent to 2.37 euros.

Unione di Banche Italiane SCPA (UBI) : Exane initiated coverage of the stock with an “underperform” rating. The shares dropped 2 percent to 5.99 euros.

-- Editor: Jason Carey

To contact the reporter on this story: Lorenzo Totaro in Rome at ltotaro@bloomberg.net Francesca Cinelli in Milan at fcinelli@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net Andrew Rummer at arummer@bloomberg.net

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