Flat Index Awaits Data
May 03, 2011
The MIBtel index inched up five points to 9598, while the MIB-30 index of blue chip stocks advanced 20 points to 14349. Investors were waiting for the first round of preliminary August consumer price data, set to be released by nine large Italian cities after the close of the market Wednesday and Thursday. Some market players were also waiting to see if the Deutsche Bundesbank would make a move to trim its repurchase rate in a policy-making meeting Thursday. Traders said energy company ENI maintained its relative strength, rising 25 lire to 6,705. Auto maker Fiat continued to fall on worries about the prospects for the Italian auto market this autumn, slipping 25 lire to 4,700. A 1.5% stake in agro-industrial and chemical company Montedison was traded on Milan's block market at 998 lire per share. On Milan's main market, Montedison shares advanced six lire to 1,001.
