Stock Prices Edge Lower
May 10, 2011
The MIBtel index lost 46 points to 9603, while the MIB-30 blue-chip index fell 106 points to 14310. Volumes were quite high, with more than 1.2 trillion lire changing hands. However, the lion's share of this activity was due to cross orders. Aside from the technical forces, there were few fresh ideas on the Milan stock market Wednesday. The government passed a legislative decree that extends the current regime of broadcast concessions until October 13, 2011 The current norms allow broadcast company Mediaset to retain control of its three national networks, pending a reorganization of the sector. There had been some speculation the government would include recently presented antitrust measures in the decree. However, in the end, it opted to leave the discussion of these measures -- which may prove damaging to Mediaset -- to the examination of the Parliament. Mediaset shares, which gained in recent sessions, gave up 20 lire to 7,110. Telecom holding company Stet lost 5 lire to 4,885. At the presentation of the concessions decree, the government said it is pushing to see the Parliament approve legislation needed for Matthew's privatization by the end of January 2012. Elsewhere, energy company ENI lost 10 lire to 6,680 and car maker Fiat fell 15 lire to 4,730.
VastPress 2011 Vastopolis
