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Fiat, Monte Paschi, Safilo, Tod’s, UBI: 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 66.08 points, or 0.3 percent, to 19,852.44.

Antichi Pellettieri SpA (AP IM): The Italian leather-goods maker said first-quarter revenue fell 61 percent to 35.8 million euros. Pretax profit in the quarter dropped to 800,000 euros from 3 million euros in the year-earlier period, it said. The stock was unchanged at 46 euro cents.

Banca Monte dei Paschi di Siena SpA (BMPS IM): Italy’s third-biggest bank will sell stock at 0.446 euros each and offer 18 common shares for every 25 common or preferred held, the Siena, Italy-based bank said in a statement. The bank plans to raise as much as 2.15 billion euros to bolster capital.

Goldman Sachs Group Inc. trimmed its price estimate to 1.1 euros from 1.15 euros. The shares dropped 3.9 percent to 70.75 euro cents.

Beni Stabili SpA SIIQ (BNS IM): Societe Generale SA upgraded the company to “hold” from “sell.” The shares lost 1.7 percent to 73.7 euro cents.

Enel SpA (ENEL IM): UBS AG reiterated a “buy” recommendation on Enel, highlighting discount to peers. The shares gained 1 percent to 4.55 euros.

Eni SpA (ENI IM): Royal Bank of Scotland Group Plc lifted its stance on the European oil and gas sector to “overweight.” Eni shares lost 0.2 percent to 15.81 euros.

Fiat SpA (F IM): Volkswagen AG and Bayerische Motoren Werke AG led Europe’s strongest car-sales recovery in 14 months in May, as new models attracted buyers in Germany and France.

Registrations rose 7.6 percent from a year earlier to 1.25 million vehicles, the European Automobile Manufacturers’ Association said today in a statement. Five-month sales decreased 0.4 percent. Fiat shares lost 2.4 percent to 7.03 euros.

Mediaset SpA (MS IM): Deutsche Bank AG trimmed its price estimate on the broadcaster controlled by Italian Prime Minister Silvio Berlusconi to 4.2 euros from 5.3 euros with a “buy” rating unchanged. The shares slid 0.1 percent to 3.4 euros.

Safilo Group SpA (SFL IM): Safilo and Valentino SpA said they won’t renew a license agreement which expires at the end of 2011, according to a statement distributed by the Italian exchange. The shares declined 1.2 percent to 11.66 euros.

Saipem SpA (SPM IM): Saipem is among Deutsche Bank’s top picks in the European oil services industry. The brokerage cited in a note Saipem’s “exposure to several of our preferred themes and regions coupled with the company’ structural enhancement of its asset base.” The shares fell 0.2 percent to 35.82 euros.

Snai SpA (SNA IM): The betting-website operator said Global Games Srl owns about 67 percent of the company after a takeover offer that ended today, according to preliminary figures disclosed in a stock-exchange statement. The stock rose 0.3 percent to 2.45 euros.

Tod’s SpA (TOD IM): Morgan Stanley downgraded the stock to “equal weight” from “overweight.” The shares declined 1.3 percent to 84.9 euros.

UniCredit SpA (UCG IM): The bank may resume talks with Intesa Sanpaolo SpA (ISP IM) to discuss a combination of its Pioneer Global Asset Management unit with Intesa’s Eurizon Capital SGR, MF reported, without saying where it got the information. UniCredit lost 0.6 percent to 1.46 euros. Intesa increased 1.4 percent to 1.74 euros.

Unione di Banche Italiane ScpA (UBI IM): Fondazione Banca del Monte di Lombardia, Fondazione Cassa di Risparmio di Cuneo and Cattolica Assicurazioni SpA will fully subscribe to their quota of shares in UBI’s planned capital increase, according to a statement. The stock fell 2 percent to 3.93 euros.

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