A2A, Eni, Fiat, Parmalat, Terna, UniCredit: Italy Equity Preview
The following companies may be active in Italian trading. Stock symbols are in parentheses and share prices are from the previous close.
A2A SpA (A2A) : The utility is scheduled to hold a board meeting today to discuss the sale of Metroweb SpA. The shares gained 0.4 percent to 1.17 euros.
Bulgari SpA (BUL IM): The jeweler being acquired by LVMH Moet Hennessy Louis Vuitton SA will benefit from “significant revenue synergies” with the world’s largest luxury-goods maker, Borsa & Finanza reported, citing Chief Executive Officer Francesco Trapani. The shares added 0.3 percent to 12.19 euros.
Enel SpA (ENEL) : Morgan Stanley, which reiterated a cautious view on European utilities, kept Enel and Snam Rete Gas SpA (SRG) among its preferred stocks in the industry. Enel shares added 0.5 percent to 4.72 euros. Snam shares slid 0.3 percent to 4.04 euros.
Eni SpA (ENI) : Extractions at the Kashagan field will start at the end of 2012 or in the following months at the latest, Claudio Descalzi, head of exploration and production for Eni, told Il Sole 24 Ore in an interview.
Italy’s biggest energy company “won’t do an about-face,” he told the newspaper, adding that Eni’s expectations about profitability of the field “are more than positive.” The shares rose 0.6 percent to 16.34 euros.
Fiat SpA (F) : Turin, Italy-based carmaker plans to buy the U.S. government’s remaining stake in Chrysler Group LLC by the end of 2011, boosting its holding to 57 percent. The shares rose 1.6 percent to 7.2 euros.
Lottomatica SpA (LTO IM): Chief financial officer Stefano Bortoli will leave the lottery company at the end of May. The shares declined 0.2 percent to 13.68 euros.
Parmalat SpA (PLT) : Groupe Lactalis, France’s biggest cheesemaker, is syndicating 7.5 billion euros ($10.7 billion) of loans to fund a bid for the Italian dairy company and refinance its existing debt, according to two people with knowledge of the deal. Parmalat shares increased 0.2 percent to 2.59 euros.
Terna SpA (TRN) : The owner of Italy’s national power grid may consider legal action to defend its plans for the construction of pumping plants and electric-energy storage systems, Il Sole 24 Ore reported, without saying where it got the information. The shares ended unchanged at 3.39 euros.
TXT e-Solutions SpA (TXT IM): The software maker may consider acquisitions in the U.S., East Europe and North Europe, Borsa & Finanza reported, citing Chief Executive Officer Marco Guida. The shares advanced 1.6 percent to 9 euros.
UniCredit SpA (UCG) : Barclays Capital kept UniCredit as its preferred name among Italian banks. The brokerage, which sees “significant re-rating” for the stock, trimmed its price estimate on Intesa Sanpaolo SpA (ISP) , Banca Monte dei Paschi di Siena SpA (BMPS IM), Unione di Banche Italiane ScpA (UBI IM). UniCredit shares added 2 percent to 1.55 euros.
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