Italian Stocks Gain

Italy MIB benchmark FTSE index rose 162.73, or 0.8 percent, to 20,650.07 at 12:00 am in Milan.

The following actions are among the most active in the Italian market today.

Banco Popolare SC (BP IM) rose 1.1 percent to 3.56 euros, ending a two-day decline. Shareholders approved a plan by the Italian lender to increase up to 2 million euros (2.7 billion) in a rights offering to pay for government-backed bonds and boost capital.

Bulgari SpA (BUL IM), jeweler to the world's third largest, rose 1.7 percent to € 8.09 after rising 4 percent on 10 December.

"Bulgari, and the luxury goods industry as a whole, is attracting investors due to its exposure to emerging markets and the relatively small size makes it a potential M and a target for big players," said Gabriele Roghi, director of portfolio management at Invest Banca SpA in Empoli, Italy. He noted that "from a technical standpoint, the first objective is 8.5 euros and the second at 10 euros."

Buzzi Unicem SpA (BZU IM) advanced 2.1 percent to € 8.46. CA Cheuvreux reiterated an "outperform" on the Italian automaker's second-largest cement, saying in a note that "the market price and depreciation factors much bigger," after the company said it reduced the value of its plant cement Oglesby, Illinois, for 99.6 million euros.

Edison SpA (EDN IM) sank 3.5 percent to 89.75 euro cents, snapping a seven-day gain. the second largest energy producer in Italy is considering a capital increase of more than 1 million euros (1320 million dollars) to strengthen its balance sheet, gas supply contracts unprofitable, threaten to further erode incomes, people with direct knowledge of the situation.

"The company says this option has not been taken into account for any of the organs of his company," Edison said in a statement in response to the report.

Eurotech SpA (ETH IM) gained 1.9 percent to 1.94 euros a manufacturer of miniature and robust computer said it signed an agreement with Cisco Systems Inc. that allows you to add products to the largest maker of networking equipment for next-generation solutions.

Fiat SpA (F IM) advanced 1.1 percent to € 14.71, rising for a second day. Unicredit raised its price estimate on the Italian automaker to 16 euros from 14.5 euros, citing "possible new agreements" and "low performance compared with their peers."

Exor SpA (EX IM), the principal shareholder of Fiat, increased 2.2 percent to € 23.28.

Interpump Group SpA (IP IM) rose 3.3 percent to 5.1 euros, the highest price in more than two months. Equita Sim SpA updated world's largest manufacturer of high performance pumps to "buy", adding people to their portfolio of small caps. "

Tenaris SA (TEN IM), the world's largest manufacturer of seamless steel tubes for oil and gas, rose 19 cents, or 1.1 percent to € 17.57. Platforms for oil and natural gas operating in the U.S. increased by 10 last week to the highest level since December 2008, led by an increase in the extraction of oil, according to data released by Baker Hughes Inc.

Trevi Finanziaria SpA (TFI IM) increased during the first day in four, increased 5.1 percent to 9.95 euros. Goldman Sachs Group Inc. upgraded the company to "buy" from "neutral", citing an "attractive risk / reward."