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Aedes, Diasorin, Fiat, Generali, UniCredit: Italy 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) increased 308.25, or 1.4 percent, to 21,810.7 in Milan on April 21. Local markets were closed April 22 and April 25 for a holiday.

Aedes SpA (AE) : Chief Executive Officer Filippo Carbonari said the company won’t need to raise new funds to meet existing commitments, according to an interview published in Il Sole 24 Ore April 23. The stock rose 0.1 percent to 17.94 euro cents.

Assicurazioni Generali SpA (G) : JPMorgan Chase & Co. upgraded Italy’s biggest insurer to “neutral” from “underweight.” The shares gained 1.5 percent to 15.48 euros.

Banca Monte dei Paschi di Siena SpA (BMPS IM): Fondazione Monte dei Paschi di Siena, the bank’s largest shareholder, said April 21 it would subscribe to Monte dei Paschi’s planned rights offer. The stock added 2.4 percent to 90.05 cents.

CIR-Compagnie Industriali Riunite SpA (CIR) : CIR had its price estimate lifted to 1.98 euros from 1.89 euros at Goldman Sachs Group Inc. The shares fell 0.2 percent to 1.69 euros.

Diasorin SpA (DIA) : Sales are forecast to rise to 470 million euros ($686 million) in 2011 and earnings before interest, tax, depreciation and amortization to reach as much as 200 million euros, Il Sole 24 Ore reported April 24, citing company estimates. The stock fell 0.3 percent to 31.98 euros.

Edison SpA (EDN IM): Italy’s second-largest power producer is scheduled to hold a shareholders’ meeting.

Edison said April 22 it agreed to sell a 2.7 percent stake in liquefied natural gas terminal Terminale GNL Adriatico Srl to ExxonMobil Italiana Gas Srl and Qatar Terminal Ltd. for 78.2 million. The stock increased 0.3 percent to 77.2 cents.

Eni SpA (ENI) : Italy’s biggest oil company had its price estimate increased to 22.5 euros from 21 euros at JPMorgan. the shares added 0.7 percent to 17.37 euros.

Fiat SpA (F) : VEB, Russia’s state development bank, may finance new projects Fiat is planning in Russia, VEB Chairman Vladimir Dmitriev told reporters outside Moscow April 22, declining to elaborate on the Italian carmaker’s plans.

Fiat had its price estimate lifted to 11.8 euros at Mediobanca Securities and to 7 euros at Exane BNP Paribas. The shares added 4.5 percent to 6.87 euros.

Parmalat SpA (PLT) : A group of investors that’s seeking to bid for 60 percent of Parmalat won’t include Granarolo SpA and plans to fund two-thirds of the 3 billion-euro ($4.4 billion) offer with debt, la Repubblica reported, without saying how it obtained the information. The stock rose 0.4 percent to 2.312 euros.

UniCredit SpA (UCG) : Italy’s biggest bank by assets said April 21 it dropped plans to sell Pioneer Investments and will focus on “organic growth.”

Separately, Chief Executive Officer Federico Ghizzoni told the bank’s strategy committee that UniCredit’s first-quarter profit rose, Il Sole 24 Ore reported April 22, without saying where it got the information. The lender isn’t planning a capital increase, the newspaper said. UniCredit is scheduled to report results May 12. The shares rose 4.5 percent to 1.691 euros.

To contact the reporters on this story: Marco Bertacche in Milan at mbertacche@bloomberg.net; Francesca Cinelli in Milan at fcinelli@bloomberg.net

To contact the editors responsible for this story: Angela Cullen at acullen8@bloomberg.net; Andrew Rummer at arummer@bloomberg.net

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