Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Italian Stocks: Autogrill, Fiat, Italmobiliare, Kinexia Move

Dec. 23 (Bloomberg) -- Italy’s benchmark FTSE MIB Index gained 40.79, or 0.2 percent, to 20,774.16 at the 5:30 p.m. close in Milan, bringing this week’s increase to 3.5 percent. The Italian equity market will be closed tomorrow.

The following stocks were among the most active in the Italian market today.

Autogrill SpA (AGL IM) increased 2.4 percent to 10.67 euros. The world’s biggest manager of airport and highway restaurants won new contracts at San Francisco and Sacramento airports and renewed a concession at Toronto airport through HMSHost.

Fiat SpA (F IM) rose for a fifth day, adding 1.4 percent to 15.52 euros. Centrobanca SpA increased its price estimate on the carmaker to 18 euros from 14.50 euros and reiterated its “buy” rating before the company splits into Fiat Industrial and Fiat Auto on Jan. 3.

“Fiat Industrial is more appealing in the short term, given its buoyant cash-flow generation and the potential for M&A activity,” the brokerage said in a note. “In the long term, Fiat Auto has greater upside potential as the integration with Chrysler should bear fruit from mid-2012 when the new models based on common platforms come on stream.”

Italmobiliare SpA (ITM IM) increased 2.4 percent to 25.60 euros. The company said it will buy a 1.4 percent stake in Mediobanca SpA and a 2.3 percent stake in RCS MediaGroup SpA from Italcementi SpA.

“For Italmobiliare the deal makes sense since it simplifies group structure,” Equita Sim SpA said in a note.

Kinexia SpA (KNX IM) jumped 8.2 percent to 2.08 euros, snapping two days of losses. The company will target 15 million euros ($20 million) in earnings before interest, taxes, depreciation and amortization in 2011.

Mediaset SpA (MS IM) gained 1.1 percent to 4.59 euros, rising for a third day this week. The company will pay 180 million euros for the free-to-air television rights for soccer matches including the UEFA Champions League, newspaper MF reported, without saying how it got the information.

Mediaset, which also won exclusive rights for the Europa League, will pay almost 60 million euros a year for the period 2012-2015, MF said. Gruppo Banca Leonardo reiterated a “buy” rating.

Parmalat SpA (PLT IM) advanced 2.6 percent to 2.08 euros, the highest price since April. The dairy company said GE Capital Finance SpA agreed to pay 7.3 million euros to settle legal claims.

Recordati SpA (REC IM) rose 1.4 percent to 7.11 euros, gaining for a fifth day. Italy’s biggest publicly traded drugmaker signed a license agreement with Merck KGaA.

Zucchi SpA (ZUC IM) surged 9.9 percent to 49.2 euro cents after the company approved a 30 million-euro capital increase. Zucchi plans to sell 15 million euros of shares to existing shareholders and issue warrants for a further 15 million euros.

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

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.