Stock down 1.77% (Il Sole 24 Ore Radiocor) - Milan , 19 Jul - Shares of the Italian payment systems provider Nexi were lower in Milan trade, after the Italian bank UniCredit sold a 1.1% stake through an accelerated book building process.

The shares were sold at a price of 5.735 euros, 2.5% below yesterday's closing price.

At 0800 GMT, Nexi shares were down 1.77% to 5.78 euros while the benchmark FTSE MIB index was 0.44% higher at 34,529.13 points.

The sale was related to another transaction between UniCredit and Fides, an investment vehicle of the Italian private equity group Clessidra.

The broker Intermonte reiterated its "outperform" recommendation on Nexi shares and a target price of 8.5 euros.

AAA-Hob

(RADIOCOR) 19-07-24 10:17:16 (0184) 5 NNNN