Reuters: Global Markets: Shares in Berlusconi's Mediaset up 10 pct on Italy election polls

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Shares in Berlusconi's Mediaset up 10 pct on Italy election polls Feb 25th 2013, 14:59 Tweet Share this Email Print Related News Centre left takes strong lead in Italy election: polls 10:14am EST UPDATE 4-Investors cheer centre-left lead in Italy polls 10:00am EST Centre left leads in Italy election: polls 9:58am EST UPDATE 3-Protest votes increase uncertainty in Italy election 5:09am EST UPDATE 4-Gloomy Italians vote in election crucial for euro zone Sun, Feb 24 2013 Analysis & Opinion Euro zone triptych The losers in Italy's election are already clear Related Topics Hot Stocks » Asian Markets » Italy's Prime Minister Silvio Berlusconi gestures as he leaves the Justice Palace in Milan March 28, 2011. Credit: Reuters/Alessandro Garofalo MILAN | Mon Feb 25, 2013 9:59am EST MILAN (Reuters) - Shares in Silvio Berlusconi's media firm Mediaset (MS.MI) rose as much as 10 percent on Monday after the first Italian election polls showed that the center-left coalition led by Pier Luigi Bersani was winning over Berlusconi's center-right bloc. Traders said there was no specific reason to explain the rise in the stock except short covering. "There weere a lot of short (positions) that are being covered," one of them said. The center left is strongly leading in Italy's election, 5-6 percentage points ahead of the center right of former premier Silvio Berlusconi, according to two telephone polls of voters. "If the polls prove to be reliable, there would be no reason to explain the rise in Mediaset shares. With a left wing majority ... Mediaset risks being penalized," Claudio Aspesi, analyst at Bernstein in London, said. After falling about 1 percent in morning trade, Mediaset recovered ground during the session. By 9.49 a.m. EST. The stock was 7.3 percent higher at 1.80 euros, topping Milan blue chip gainers. (Reporting By Danilo Masoni; Editing by Lisa Jucca) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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