MILAN STOCK EXCHANGE up slightly at the start, flying Italcementi, sinks Saipem – Reuters Italy

       

MILAN, July 29 (Reuters) – Start up slightly on the Milan Stock Exchange as for other European exchanges after signs of stabilization came from Chinese markets.

       

Shortly after the 9 FTSEMib salt 0.1%, such as AllShare, while the European benchmark rises by 0.6%.

       

After a few minutes in the volatility auction, jumped by 50% to 9.97 euro ITALCEMENTI approaching to 10.60 euro which HeidelbergCement will detect 45% held by ITALMOBILIARE (at auction with + 36.6%) and which will launch the mandatory tender offer.

       

The transaction, subject to high multiples, warms the entire cement sector with Buzzi up by 6.7% and Cementir in the auction after a jump of 11.4%.

       

Starting heavy instead for SAIPEM, which after some difficulty making money yields more than 8%. Yesterday he announced to the markets closed heavy writedowns and a downward revision of estimates in 2015.

       

falls parent company ENI, down by 0.76% compared with a sector oil & amp; gas positive.

       

Moderate upside for banks as in Europe, flat TELECOM.

        
       

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