Italian Stocks: Enel Green Power, Fiat, Telecom Italia Media
The following stocks were among the most active in the Italian market today.
Banco Popolare SC (BP) ended three days of losses, gaining 1.5 percent to 2.53 euros. Chief Executive Officer Pier Francesco Saviotti is “positive” about paying a dividend to shareholders.
Enel Green Power SpA (EGPW) added 2.5 percent to 1.70 euros, climbing for a second day. Italy’s largest renewable energy company will join the Stoxx Europe 600 Index on March 21, index provider Stoxx Ltd. said in a press release.
The shares of carmaker Fiat SpA (F) lost 1.6 percent to 6.69 euros, as automobile stocks were the worst performers in Europe today. Fiat Industrial SpA (FI IM), whose main assets are truck and tractor makers Iveco SpA and CNH Global NV, sank 1.9 percent to 9.78 euros. Pirelli & Cie. SpA (PC) , Europe’s third-largest tiremaker, dropped 2.9 percent to 5.73 euros.
Finmeccanica SpA (FNC) fell 1.7 percent to 8.96 euros, its seventh straight loss. Deutsche Bank AG, which has a “hold” rating on Italy’s biggest defense company, said in a note that “relative valuation remains unattractive.” The brokerage lowered its 2010 earnings-per-share estimate by 9 percent.
Telecom Italia Media SpA (TME) advanced 4.5 percent to 20.1 euro cents, its first gain this week, as the company said in a statement today that its 2010 net loss narrowed to 54.4 million euros compared with 72.5 million euros in 2009.
To contact the reporter on this story: Francesca Cinelli in Milan at email@example.com.