Fondiaria, Intesa, Italcementi, SS Lazio: 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 (FTSEMIB) fell 88.23 points, or 0.4 percent, to 20,014.11.
Buzzi Unicem SpA (BZU) : Exane BNP Paribas upgraded the stock to “neutral” from “underperform.” The shares dropped 1.5 percent to 9.01 euros.
Fondiaria-SAI SpA (FSA) : The insurer approved final conditions for its planned capital increase, according to a statement distributed by the Italian exchange.
Fondiaria will sell new common shares at 1.5 euros each and 1 euro for saving shares. Investors have an option to buy two new shares for every one they hold.
Milano Assicurazioni SpA (MI) , a unit of Fondiaria, also approved final details for its capital increase. Fondiaria shares fell 4.2 percent to 4.45 euros. Milano Assicurazioni declined 4.5 percent to 76.8 euro cents.
Intesa Sanpaolo SpA (ISP) : Italy’s second biggest bank said it raised 5 billion euros in a share sale as its capital increase was fully subscribed. The shares rose 0.2 percent to 1.86 euros.
Italcementi SpA (IT) : Exane BNP Paribas upgraded the stock to “outperform” from “neutral.” The shares fell 2.3 percent to 6.09 euros.
Saras SpA (SRS) : Goldman Sachs Group Inc. cut its price estimate to 1.83 euros from 2 euros with a “neutral” rating unchanged. The shares lost 0.9 percent to 1.49 euros.
Snam Rete Gas SpA (SRG) : Citigroup Inc. lifted its recommendation to “buy” from “hold.” The brokerage added Snam as a top pick among regulated names. The shares dropped 0.5 percent to 4.02 euros.
SS Lazio SpA (SSL IM): The soccer club said it’s not aware of any reasons justifying share movements in the past few days. Lazio shares rose more than 50 percent this week. The shares gained 6.5 percent to 62 euro cents.
UniCredit SpA (UCG) : Chief Executive Officer Federico Ghizzoni is scheduled to attend a conference in Rome. Unicredit fell 0.1 percent to 1.52 euros.
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