Generali, MPS, Pirelli RE, UniCredit: 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 fell 532.02, or 2.3 percent, to 23,007.22 in Milan.

Assicurazioni Generali SpA (G IM): Private investors controlling about 13 percent of Italy’s biggest insurer want increased powers for Sergio Perissinotto at the head of the company, daily la Repubblica reported, without saying where it got the information. The investors, including Luxottica Group SpA’s Leonardo Del Vecchio and PPF Group NV founder Petr Kellner, met in Milan to discuss Generali, Repubblica said.

Perissinotto is currently co-chief executive officer with Sergio Balbinot. The insurer’s shareholders are due to meet April 24 to elect the new board.

The shares dropped 52 cents, or 2.9 percent, to 17.2 euros.

Banca Monte dei Paschi di Siena SpA (BMPS IM): Deutsche Bank AG upgraded Italy’s third-biggest bank to “buy” from “hold.” The brokerage said in a note that “MPS has been one of the worst performers among Italian and European banks since the beginning of 2010, especially immediately after the release of fourth-quarter results.” The shares fell 1.7 percent to 1.16 euros.

Fiat SpA (F IM): The Italian carmaker may make 239,000 cars in the U.S. by 2015, la Repubblica reported, citing an internal company document. Fiat may also produce 200,000 low-cost cars in Serbia in 2015, la Repubblica said. The shares lost 0.6 percent to 9.85 euros.

Pirelli & C. Real Estate SpA (PRS IM): The Italian real- estate company said there are no negotiations with potential new investors on the sale of a stake. Pirelli Real Estate received “many expressions of interest,” demonstrating “the soundness” of the company, it said.

The shares fell 1 cent, or 2 percent, to 48 cents.

Telecom Italia SpA (TIT IM): Italy’s communications regulator, Agcom, approved a plan that allows Telecom Italia SpA to raise the so-called unbundling fee it charges competitors who want to access its network for high-speed Internet services.

The stock declined 1.4 cents, or 1.2 percent, to 1.12 euros.

UniCredit SpA (UCG IM): Nomura International Plc upgraded its view on European banks to “bullish” from “neutral.” The brokerage cited “an improving economic and sector earnings outlook for 2010, a supportive low rate environment, an inexpensive valuation in absolute and relative terms, and a regulatory environment that ultimately” it believes “will be supportive of growth.” Nomura kept a “buy” rating on Italy’s biggest bank. UniCredit shares fell 3.8 percent to 2.2 euros.

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