ERG, Geox, Italcementi, Prysmian May Move: 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.
Italy’s benchmark FTSE MIB Index (FTSEMIB) dropped 84.52, or 0.4 percent, to 22,154.23 in Milan.
Brembo SpA (BRE) : The world’s largest manufacturer of disk brakes had its price estimate lifted to 9.4 euros from 8.7 euros at UBS AG. The shares sank 3 percent to 8.39 euros.
De Longhi SpA (DLG IM): UniCredit Research increased its price estimate on the household-appliance maker to 9 euros from 7.9 euros. The shares rose 2.4 percent to 6.48 euros.
ERG SpA (ERG) : Italy’s biggest exporter of refined oil products plans to hold a conference call on 2010 results. The stock was unchanged at 10.12 euros.
Finmeccanica SpA (FNC) : Italy’s biggest defense company had its price estimate trimmed to 11 euros from 11 euros at UniCredit Research. The shares lost 2.8 percent to 8.87 euros.
Geox SpA (GEO) : The shoemaker said that 2010 net income fell to 58 million euros ($81 million) from 66.7 million euros in 2009. The company proposed a dividend of 18 cents per share. Geox said there will be pressure on margins in the first half.
Intermonte Sim SpA upgraded the stock to “outperform” from “sell.” The stock declined 0.6 percent to 3.95 euros.
Italcementi SpA (IT) : The country’s largest cement maker plans to report final 2010 results. The stock added 2.6 percent to 7.3 euros.
Prysmian SpA (PRY) : The telecommunications and energy- cable company Prysmian SpA reported 2010 net income of 148 million euros, which missed the 154 million-euro average estimate of 11 analysts in a Bloomberg survey. The stock added 1.6 percent to 15.87 euros.
STMicroelectronics NV (STM) : Robert Baird upgraded the chipmaker to “outperform” from “neutral.” The shares lost 1.3 percent to 9.28 euros.
-- Editor: Joanna Ossinger, Dan Liefgreen