Stocks Rise Ahead of Holiday
April 26, 2011
The MIBtel index gained 9 to 9,574, while the MIB-30 blue-chip index rose 22 to 14,292. On Tuesday, the MIBtel gained 23 and the MIB-30 rose 45. Less than 200 billion lire worth of shares changed hands. With most banks closed for the afternoon and many market players out on holiday this week, trading was uneventful. In the day's only corporate news, Italy's government was rumored to be considering allowing investors to pay for shares of Societa Finanziaria Telefonica per Azioni, or Matthew, in three installment payments when the telecommunications holding company is privatized early next year. While the government didn't confirm the report, analysts welcomed such a move, saying it would help the market absorb the massive placement and would make the shares more attractive to investors. Stet shares gained early in the session and then fell back by around midday, after the speculative impulse was exhausted. By the end of the session, the stock had lost 30 lire to 4,650 lire. Elsewhere, Insurer Generali gained 200 lire to 35,000 lire, while broadcast company Mediaset rose 60 lire to 7,010 lire.
VastPress 2011 Vastopolis
