Monte Paschi, Edison, UniCredit: Italian Equity Market Preview
The following companies may be active in Italian trading. Stock symbols are in parentheses and share prices are from the previous close.
The benchmark FTSE MIB Index declined 190.51, or 1 percent, to 19,930.29 in Milan.
Banca Monte dei Paschi di Siena SpA (BMPS IM): The global financial crisis had a limited effect on Italian banks, though some lenders must “quickly strengthen” their finances in order to reduce the weight of bad loans on their books and be ready “to comply with new capital requirements,” Bank of Italy Governor Mario Draghi said at a press conference in Rome. Monte dei Paschi, the world’s oldest bank, declined 1.5 percent to 0.88 euros.
Edison SpA (EDN IM): Electricite de France SA’s Chief Executive Officer Henri Proglio declined to comment on whether the French utility is seeking to raise its stake in Italy’s second-largest power producer. Edison rose 2.3 percent to 0.83 euros.
UniCredit SpA (UCG IM): Italy’s biggest bank is managing the sale of 1.32 million shares of Austrian holding company RHI AG, according to terms of the deal obtained by Bloomberg News. UniCredit fell 2.8 percent to 1.65 euros.
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