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Italian shares

end firmer

ahead of election

MILAN: Italian shares ended firmer ahead of Sunday's general election buoyed by higher domestic bonds, the lira and the expiry of index and share options, but dealers said the mood in still uncertain ahead of the key vote.

With the outcome of the election still unclear with both main groups appearing to be neck and neck, dealers said the market was being optimistic pushing higher. Analysts said the Italian market had been lagging other international markets and there was some houses taking positions ahead of the vote.

The Mibtel index ended up 1.14 percent at 9,932, and the Mib30 index also up 1.14 percent at 14,777.

Most blue chips joined in the rally with ENI up 0.93 percent at 6,285 lire and Fiat 1.84 percent firmer at 5,410 lire, but Olivetti lagged with a loss of 0.14 percent after further reflection of Tuesday's 1995 group result.

Dealers said the investors were taking an optimistic view of the outcome of the election and there would be disappointment on Monday it the vote pointed to a hung parliament.

"The market is caught up in a mood of optimism, let's hope it is right," said one Milan trader.-Reuter