Reuters: Global Markets: Fiat shares extends gains on short covering

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Fiat shares extends gains on short covering Jan 17th 2013, 11:02 MILAN | Thu Jan 17, 2013 6:02am EST MILAN (Reuters) - Shares in Italian car maker Fiat (FIA.MI) accelerated gains in midmorning trading on Thursday with traders citing short covering. By 1043 GMT, the stock was 3 percent higher at 4.37 euros, its highest since Tuesday when Fiat hit a three-month peak. The European auto index .SXAP was down 0.20 percent. Filings from market regulator Consob show that The Children's Investment Fund Management had in December a short position on Fiat equivalent to 1.84 percent of its share capital. Fiat's chief executive Sergio Marchionne is holding a speech on Thursday at Milan's stock exchange. Shares in the Italian car maker rose more than 6 percent on Monday helped by positive broker notes.

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