Autogrill, Enel, Mediobanca, Pirelli May Be Active: 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) dropped 287.36, or 1.3 percent, to 21,666.40 in Milan.

Enel SpA (ENEL) : Endesa SA, a Spanish utility controlled by Italy’s Enel, said first-quarter net income fell to 669 million euros from 1.54 billion euros a year earlier when the company booked a one-time gain. Net income compared with an average forecast of 615 million euros in a Bloomberg survey of three analysts. Enel shares lost 1.1 percent to 4.61 euros.

Fiat Industrial SpA (FI IM): Fiat Industrial is among stocks recommended by UniCredit Research in the European capital goods industry. The shares gained 1.3 percent to 10.09 euros.

Mediobanca SpA (MB) : Morgan Stanley kept Mediobanca as its preferred name among Italian banks ahead of quarterly results. The shares declined 1.8 percent to 7.44 euros.

Molecular Medicine SPA (MLM) : The Italian biotechnology company posted a quarterly loss of 4.7 million euros compared with 4.2 million euros in the same period of last year. The shares lost 2.9 percent to 55.65 euro cents.

Parmalat SpA (PLT) : Groupe Lactalis may ask Italy’s biggest banks to help fund an acquisition of Parmalat, daily Il Sole 24 Ore reported, without saying where it got the information.

Intesa Sanpaolo SpA, UniCredit SpA and Mediobanca SpA should have received a letter on the issue in recent days, according to the Italian newspaper. Lactalis plans to fund the acquisition using debt, and Societe Generale, Credit Agricole, HSBC and Natixis may seek to “share the risk” with other banks, Il Sole reported. The shares added 0.1 percent to 2.6 euros.

Pirelli & C. SpA (PC IM): HSBC Holdings Plc upgraded Europe’s third-largest maker of tires “overweight” from “neutral.” The shares added 0.6 percent to 7 euros.

Telecom Italia SpA (TIT) : Nomura Holdings Inc. lowered its price estimate on Italy’s biggest phone company to 1.08 euros from 1.12 euros. The shares slid 1 percent to 99.75 euro cents.

Yoox SpA (YOOX) : The online retailer had its price estimate lifted to 13 euros at Deutsche Bank AG and BofA Merrill Lynch Global Research. The shares lost 2.2 percent to 11.97 euros.

The boards of the following companies are among those scheduled to approve quarterly results:

Autogrill SpA (AGL) lost 0.3 percent to 9.67 euros;

Banca Generali SpA (BGN) added 0.4 percent to 11.3 euros;

Mediaset SpA (MS) dropped 2.4 percent to 4.28 euros;

Seat Pagine Gialle SpA (PG) lost 1 percent to 8 euro cents.

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

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

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