Friday May 9, 08:57 AM
Milan shares TFN market data at 9:36 a.m.; Unicredit, STMicro lead fall
MILAN (Thomson Financial) - Milan shares TFN market data at 9:36 a.m.:
Main indices:
-Mibtel at 25,842 points, down 0.58 percent
-S&P/Mib at 33,802 points, down 0.82 percent
Main S&P/Mib losers
-UniCredit (Milan: UCG.MI - news) down 2.03 percent at 4.685 euros as Cheuvreux downgraded the stock to 'underperform' from 'outperform' and cut the price objective to 4.8 euros from 5.3 euros as it sees the bank's 2008 EPS target as aggressive and sees its core Tier 1 target of 6 percent at year end at risk given current market conditions
-STMicroelectronics (Paris: NL0000226223 - news) down 2.01 percent at 8.03 euros
-Italcementi (Milan: IT.MI - news) down 1.51 percent at 13.39 euros
-Intesa Sanpaolo (Milan: ISP.MI - news) down 1.44 percent at 4.5675 euros. According to reports market regulator Consob is investigating on the asset-backed-securities in the bank's portfolio. The investigation regards also other banking groups, the report said
-Banca Monte dei Paschi (Milan: BMPS.MI - news) di Siena down 1.36 percent at 2.32 euros as its 4.97 billion euros capital hike draws to a close. The rights associated with the issue will be traded on the market until Monday. The rights are currently down 10 percent at 0.532 euros
Main S&P/Mib gainers
-Impregilo (Milan: IPG.MI - news) up 1.88 percent at 4.0275 euros
-Pirelli (Milan: PC.MI - news) up 1.25 percent at 0.561 euros ahead of the release of its first-quarter results that should show a fall in operating profit depressed by weaker tyre operations and a fall in real estate operations
-Gruppo Editoriale l'Espresso (Milan: ES.MI - news) up 0.82 percent at 2.22 euros
-Snam Rete Gas (Milan: SRG.MI - news) up 0.77 percent at 4.2625 euros
-Banco Popolare (Milan: BP.MI - news) up 0.60 percent at 13.15 euros
Other stocks in the news
-Saras (Milan: SRS.MI - news) up 2.40 percent at 3.9425 euros after releasing better than expected first quarter results as margins at the group's Sarroch refinery rose thanks to its strong diesel exposure more than offsetting weakness in the U.S. dollar
-Tiscali (TIS.MDD - news) down 0.94 percent at 2.63 euros. According to reports the group's main shareholder Renato Soru is ready to sell his 25 percent stake to Vodafone (LSE: VOD.L - news) , with a decision possible as soon as Monday. Monday, Tiscali's board will meet to announce first quarter results and the expressions of interest received to buy the group or part of its assets
-Telecom Italia (Milan: TIT.MI - news) down 0.84 percent at 1.30 euros ahead of the release of its first quarter results that should be affected by a decline in revenues in its domestic activities and growing competition in Brazil
-Cementir (Milan: CEM.MI - news) down 3.33 percent at 5.69 euros after releasing a sharp fall in pretax profit depressed by operational factors. However sales rose 3.2 percent, beating analysts' expectations
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