Azimut, Eni, Finmeccanica, Luxottica: 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 rose 142.03, or 0.6 percent, to 22,380.19 in Milan.

Azimut Holding SpA (AZM IM): Deutsche Bank AG said in a note it expects a healthy first quarter for Italian asset gatherers in terms of recurring fees. The brokerage also said that it expects Azimut to outperform Mediolanum SpA (MED IM) and Banca Generali SpA (BGN IM) measured by performance fee generation. Azimut ended unchanged at 8.55 euros. Mediolanum lost 0.6 percent to 3.95 euros. Banca Generali rose 1.1 percent to 11.3 euros.

ENI SpA (ENI IM): Italy’s biggest energy company and Algeria’s Sonatrach signed a cooperation agreement for the development of unconventional oil, “with particular focus on shale gas,” according to an e-mailed statement. The shares rose

0.8 percent to 17.93 euros.

Exor SpA (EXO IM): Exane BNP Paribas lifted its price estimate on Fiat SpA’s main shareholder to 24.5 euros from 22.5 euros. the shares rose 1.3 percent to 24.26 euros.

Finmeccanica SpA (FNC IM): Italy’s biggest defense company expects an agreement with Boeing Co. on supply work for the 787 Dreamliner by the end of the year, Co-General Manager Alessandro Pansa said on a conference call. Finmeccanica broke even in the first quarter, according to a statement distributed through the Italian exchange. The shares declined 2.1 percent to 9.17 euros.

Luxottica Group SpA (LUX IM): The world’s largest eyewear maker said first-quarter profit rose almost 21 percent as it sold more branded glasses in emerging markets. BofA Merrill Lynch Global Research cut its rating to “neutral” from “buy.” The shares fell 1.6 percent to 22.70 euros.

Tamburi Investment Partners SpA (TIP IM): Fidentiis Equities SA initiated coverage of the private-equity firm with a “buy” rating. The shares fell 0.7 percent to 1.46 euros.

UniCredit SpA (UCG IM): Farhat Omer Bengdara, the former governor of the Central Bank of Libya and deputy chairman of Italy’s largest bank, will remain on the bank’s board. Bengdara’s comments, orginally reported by news agency Ansa, were confirmed by a company official. The shares declined 0.2 percent to 1.73 euros.

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