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Italian Stocks: Bulgari, ERG, Geox Shares Are Active in Milan

Nov. 12 (Bloomberg) -- The benchmark FTSE MIB Index dropped 26.13, or 0.1 percent, to 20,829.83 at the 5:30 p.m. close in Milan. The gauge has fallen 1.7 percent this week.

The following companies were active.

Bulgari SpA (BUL IM) tumbled 4.8 percent to 7.10 euros, the biggest drop in eight months. The world’s third-largest jeweler said third-quarter net income was 16.6 million euros ($22.8 million), trailing the 19.8 million euros average analyst estimate in a Bloomberg survey. Bulgari was also cut to “underweight” from “neutral” at JPMorgan Chase & Co.

ERG SpA (ERG IM) slipped 1.6 percent to 9.69 euros, the lowest close in more than a month. The refiner swung to a loss of 13.9 million euros in the third quarter from a profit of 5.2 million euros a year earlier, according to a statement distributed by the Italian exchange.

Geox SpA (GEO IM) decreased for the fourth day, sliding 8.3 percent to 3.75 euros. The shoemaker said nine-month net income fell to 72.4 million euros from 89.7 million euros a year earlier, according to a statement.

To contact the reporter on this story: Adam Ewing in Stockholm at aewing5@bloomberg.net.

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.

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