Shares Fall on Strong Volume
March 28, 2011
The MIBtel index fell 214 to 9711 after skidding 322 Monday, while the MIB-30 index of blue-chip stocks slipped 410 to 14429. Volume was heavy. The market had fallen even further in earlier dealings, but recovered somewhat when Wall Street opened slightly stronger. While the market's overall tone was negative, there was little gloom in the camp of television and advertising company Mediaset, whose stock benefited from the news that it would be inserted in a Morgan Stanley index at the end of the month. Mediaset rose 240 lire to 7,555. Another exception to the grim market was provided by food and dairy group Parmalat, which jumped 34 lire to 1,900. A broker noted that there is a perception that the stock-price retreat was overdone following the announcement of the terms of an upcoming capital increase. Information-systems company Stultz slipped 42 lire to 821.
