June 28 (Bloomberg) -- Italy’s FTSE MIB Index rose for a second session, gaining 168.87, or 0.9 percent, to 20,130.61 in Milan.
The following stocks were among the most active on the Italian market today.
Autogrill SpA (AGL IM) gained 21 cents, or 2.1 percent, to 10.03 euros, after falling for the three previous sessions. Fidentiis Equities SV SA reiterated a “buy” rating on the world’s biggest manager of airport and highway restaurants, citing an improvement in U.S. air traffic in May.
Banca Popolare di Milano Scrl (PMI IM) increased 9.75 cents, or 2.8 percent, to 3.63 euros. The news flow from the Group of 20 nations is “positive for Italian banks,” Intermonte Sim SpA said in a note.
G-20 leaders endorsed targets to cut deficits and agreed to pursue higher capital requirements for banks once their economies improve further. The G-20 said banks need to raise capital “significantly”. It will allow countries to phase in new rules, with a goal of meeting new standards by the end of 2012. Unione di Banche Italiane ScpA (UBI IM) rose 16 cents, or 2.2 percent, to 7.44 euros.
Banco Popolare SC (BP IM) advanced for a second session, rising 17.75 cents, or 3.9 percent, to 4.75 euros. Societe Generale SA initiated coverage of Italy’s fourth-biggest bank with a “buy” rating and set a price estimate of 5.9 euros.
Camfin SpA (CMF IM) surged 1.35 euro cents, or 4.8 percent, to 29.35 cents, its biggest gain in two weeks. Pirelli & C. SpA’s largest shareholder was upgraded to “buy” from “neutral” by UBS AG.
Fiat SpA (F IM) rose 16.5 cents, or 1.9 percent, to 9.03 euros, ending a four-session losing streak. The carmaker is negotiating with six banks on a 4 billion euro ($4.9 billion) financing to prepare for splitting its car unit from its truck and tractor operations, the Wall Street Journal reported, citing unidentified people familiar with the talks.
Exor SpA (EXO IM) climbed 65 cents, or 4.8 percent, to 14.27 euros. UBS said in a note Fiat’s main shareholder was one of the most attractive European holding companies.
Geox SpA (GEO IM) gained 13 cents, or 3.5 percent, to 3.87 euros, its first increase in four sessions. The shoemaker will expand its retail network to 1,060 shops by the end of the year, Il Sole 24 Ore reported, citing founder Mario Moretti Polegato. “The disclosed 19 percent increase for the fall/winter 2011 campaign was also positive,” Banca IMI said in a note.
Italmobiliare SpA (ITM IM) rose 31 cents, or 1.4 percent, to 23.34 euros, snapping a three-session losing streak. UBS increased its price estimate on the biggest shareholder in Italcementi SpA (IT IM), Italy’s largest cement maker, to 43.30 euros from 40.50 euros. The brokerage kept a “buy” rating.
Pirelli & C. SpA (PC IM) advanced for the first session in four, rising 1.35 euro cents, or 2.9 percent, to 47.6 cents. Chairman Marco Tronchetti Provera said the tiremaker isn’t looking to make acquisitions, Il Sole 24 Ore reported, citing an interview. Tronchetti Provera also confirmed the company’s targets for 2010 in an interview with French daily Les Echos.
Mediobanca Securities reiterated an “outperform” recommendation.
Prysmian SpA (PRY IM) gained 26 cents, or 2.1 percent, to 12.52 euros, rebounding from its lowest closing price since June 8. The world’s second-biggest cable maker sees “clear signs of recovery in the second half,” Chief Executive Officer Valerio Battista told Il Sole 24 Ore in an interview.
Tenaris SA (TEN IM), the world’s biggest maker of seamless steel tubes for oil and gas extraction, rose 33 cents, or 2.2 percent, to 15.27 euros, ending a three-session loss. The number of active rigs in the U.S. was 1,552 last week, 13 rigs higher than the previous week. “In the first quarter Tenaris generated about 48 percent of its revenue“ from North America, Equita Sim SpA said in a note today.
To contact the reporter on this story: Francesca Cinelli in Milan at firstname.lastname@example.org.
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