Enel, Iren, Popolare Milano, 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) lost 276.40, or 1.3 percent, to 21,408.94.

A2A SpA (A2A) (A2A IM), Acea SpA (ACE) , Edison SpA (EDN) : UniCredit Research resumed coverage of the stocks with a “hold” rating.

Separately, Edison had its price estimate trimmed to 97 euro cents from 99 euro cents at Goldman Sachs Group Inc. A2A slid 0.3 percent to 1.18 euros. Acea declined 0.1 percent to 8.53 euros. Edison dropped 1.8 percent to 77.6 euro cents.

Banca Popolare di Milano Scrl (PMI IM): The bank named Enzo Chiesa general manager, according to an e-mailed statement late yesterday. Chiesa replaces Fiorenzo Dalu, who resigned on May 1. The shares fell 1.8 percent to 2.14 euros.

Credito Emiliano SpA (CE) : Exane BNP Paribas trimmed its price estimate on the lender to 5.1 euros from 5.5 euros. The shares retreated 0.9 percent to 4.36 euros.

Enel SpA (ENEL) : Enel said a court decision to halt a planned 2.5 billion euro ($3.6 billion) conversion of its thermoelectric Porto Tolle plant to coal will damage the country’s economy.

Separately, Barclays Capital lifted its price estimate on Italy’s biggest utility to 5.6 euros from 5 euros. The shares dropped 1.4 percent to 4.65 euros.

Iren SpA (IRE) : UniCredit initiated coverage of the stock with a “buy” rating. The shares gained 0.7 percent to 1.39 euros.

UniCredit SpA (UCG) : The ratings of Italy’s biggest bank were placed on review by Moody’s Investors Service for possible downgrade. Shares declined 1.1 percent to 1.63 euros.

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

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

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