Dividend Payouts Damp Interest
March 31, 2011
The MIBtel index fell 27 to 9913, while the MIB-30 index of blue-chip stocks slipped 38 to 14785. Traders said that volume was high, but trading activity was largely technical due to the fact that several shares are set to begin trading ex-dividend Monday. Traders said investors were turning an eye towards preliminary July consumer-price figures in hope that the data will finally provide the impetus for an interest-rate cut. Florence and Perugia were slated to release consumer-price data after the market's close of the market Friday, followed by the remaining eight cities Monday. Among actively traded shares, television and advertising company Mediaset fell 220 lire to 7,380 after the group said that the government's proposed changes in the television sector could cost the company much more than initially envisioned. Nevertheless, market participants said they expect the proposed legislation will be changed. Auto maker Fiat jumped 35 lire to 4,945 and energy company ENI advanced 15 lire to 7,050. Insurer Generali fell 250 lire to 35,100, while telecommunications holding company Stet fell 20 lire to 4,835.
