Milan shares lower at midday, Alleanza slumps after Generali plan

Unicredito was up 0.58 pct at 6.08 eur following reports it could sell a majority stake in real estate fund management company Fimit. Alleanza fell 4.25 pct to 9.41 eur after Generali management ruled out any buyout of Alleanza minorities over the period of the new revised business plan. Generali was down 0.71 pct at 30.76 eur as the new plan failed to enthuse the market. The new 2009 profit target of 3.8 bln eur, from 2.4 bln in 2006, was above analysts' forecasts but has already been discounted by the market, traders said.