Mediaset, Saras, UniCredit, AS Roma: 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 409.82 points, or 2.1 percent, to 20,102.34.

AS Roma SpA (ASR) : Paolo Fiorentino, chief operating officer of UniCredit SpA, said that a transaction involving soccer club AS Roma will be completed around July 4. The stock fell 0.5 percent to 67.9 euro cents.

Mediaset SpA (MS) : Barclays Capital cut its recommendation to “equal weight” from “overweight,” citing in a note a “deteriorating advertising momentum in Italy,” and a “weak performance in Spain.”

Separately, Societe Generale SA trimmed its price estimate to 3.7 euros from 5.8 euros with a “hold” rating unchanged. UBS kept a “neutral” rating and a price estimate of 3.5 euros. The shares rose 1.3 percent to 3.4 euros.

Saras SpA (SRS) : The company said an oil pipeline leak at its Sarroch refinery in Sardinia was “negligible” and didn’t affect operations. The stock rose 0.7 percent to 1.5 euros.

Sogefi SpA (SO) : Mediobanca Securities reiterated an “outperform” rating and a price estimate of 3.5 euros for the car-parts maker, while lifting its earnings-per-shares estimates by 5.6 percent for 2012 and 8.2 percent for 2013. The shares rose 4.7 percent to 2.45 euros.

UniCredit SpA (UCG IM): General Manager Roberto Nicastro said gross operating profit in Italy rose 10 percent in the four months ended in April, as the cost of risk in the country fell 15 percent. The Italian business is doing “well” in the second quarter, he said. UniCredit plans to securitize as much as 14 billion euros of assets to use as collateral with the European Central Bank, executives said at a press conference in Milan. The stock rose 2.2 percent to 1.52 euros.

To contact the reporters on this story: Chiara Remondini in Milan at cremondini@bloomberg.net Francesca Cinelli in Milan at fcinelli@bloomberg.net.

To contact the editors responsible for this story: Kenneth Wong at kwong11@bloomberg.net James Ludden at jludden@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.