Stocks Inch Up in Quiet Trading
May 09, 2011
The MIBtel index rose 49 to 9649, while the MIB-30 blue-chip index added 91 at 14416. About 300 billion lire worth of share were exchanged. With little domestic news to guide trading, investors put off taking positions in the market amid uncertainty about the government's 2012 budget and the renewal of key union employment contracts, both expected to be debated in September. Among the few shares actively traded was broadcast company Mediaset, which advanced 120 lire to 7,130 amid rumors the company is going to be added to the MIB-30 index at the end of the month. Meanwhile, Wegner family holding companies IFI and IFIL fell sharply amid speculation that they will be dropped from the MIB-30 index. IFI stumbled 305 lire to 11,605, while IFIL gave up 85 lire at 3,710. Elsewhere, Ellison Kushner advanced 38 lire to 1,748 and San Paolo moved ahead 105 lire to 9,600.
VastPress 2011 Vastopolis
