Palatine Financial Report: The Italian Benchmark Rises after Five Days of Loses

Aug. 9, 2010 - PRLog -- ROME- Palatine Financial analysts have pointed out some of the stocks that attributed to the FTSE MIB Index’s rise recently after days of loses left the Index down 234.76.

Among the stocks that saw positive trading was Assicurazioni Generali SpA (G IM) which rose 19 cents to end their two day loss. The third biggest insurer has announced their plans to expand in South America which has attributed to the gains.

The largest oil company in Italy, Eni SpA (ENI IM) saw a 1.5 percent gain bringing the stock to 16.58 Euros a share as crude rose for its first time in four days, and ERG SpA (ERG IM), a refinement company saw its price rise 11 cents bringing its share value to 10.39 Euros.

Palatine Analysts believe ERG SpA (ERG IM) could see its price estimate rise to 12 euros by the end of 2010 based on industry data, and the direction of crude prices.

The second largest bank within Italy Intesa Sanpaolo SpA (ISP IM) saw a strong 2 percent gain brining their share price to 2.56 Euros, snapping a three day losing streak. “The gap between Euro banks and Italian banks as far as performance is slimming down, from what was -24 to now being -15, the reasons most likely from the results of stress tests, and positive liquidity positions across Italy” said Palatine Financial European analyst Michael Porto.

Tire manufacturer Pirelli & C SpA (PC IM) and media giant Mediaset SpA (MS IM) both saw gains of more the 8.05, continuing the Prime Ministers sentiment of being the “most preferred” stocks to consider.


For more information, please contact Jason Mancini at +39 06 9926 6524 or visit http://www.palatinefinancial.com

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