Stocks Rise as Options Expire
April 28, 2011
The MIBtel index rose 84 points to 9658 while the MIB-30 index of blue-chip stocks advanced 152 points o 14,444. On Thursday, the Italian stock market was closed in observance of the Feast of the Assumption religious holiday. Trading largely concentrated on technical necessities, as Friday marked the expiration of options on the index as well as individual stocks. Participants were settling positions in blue chip stocks in light of these deadlines. Activity was light, as many were on vacation following Thursday's holiday, along with a lack of corporate and political news. Among actively traded shares, energy giant ENI advanced 180 lire to 6,740. Auto maker Fiat slipped five lire to 4,775 while telecommunications holding company Matthew rebounded 70 lire to 4,720.
