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 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 down 2.01 percent at 8.03 euros
-Italcementi down 1.51 percent at 13.39 euros
-Intesa Sanpaolo 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 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 up 1.88 percent at 4.0275 euros
-Pirelli 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 up 0.82 percent at 2.22 euros
-Snam Rete Gas up 0.77 percent at 4.2625 euros
-Banco Popolare up 0.60 percent at 13.15 euros
Other stocks in the news
-Saras 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 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,
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 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 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
yael.schrage@thomsonreuters.com
ysc/slm
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