MARKET COMMENT: Milan Stocks End Firmly Higher; Banks Support
January 17 2013 - 12:57PM
Dow Jones News
1727 GMT [Dow Jones] FTSE Mib ends 1.4% higher at 17,587.35,
pulled up mainly by banks, which are still benefiting from the
decreasing spreads between Italy's BTPs and German Bunds. Mediaset
is the best performer of the day, ending up 9%, after Credit Suisse
upgrades the broadcaster to outperform and raises the target price
to EUR2.65. Fiat's shares close higher, lifted by comments by the
chief executive, who said that the car maker could jointly produce
up to 100,000 Jeeps a year in China under a deal struck earlier in
the week with Guangzhou Automobile Group Co. Fiat ends up 6.2%. UBI
Banca is the best performer among banking stocks, ending up 3.4%.
Among the losers, Tenaris ends down 0.7%, Salvatore Ferragamo ends
off 0.5% and Diasorin drops
0.5%.(giovanni.legorano@dowjones.com)
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