Shares in Italy’s Saipem SPMI.MI rise as much as 2.5% after the group said late on Wednesday it had won a 1 billion dollar gas service contract in Lybia, aimed at developing the Bouri Gas Utilisation Project

** In a note, Banca Akros analysts say the order is “clearly good news” for the energy services group

** The broker adds that the size of the contract is large and indicates market scenario remains favourable for Saipem, especially in the offshore and gas segment

** At 0747 GMT the stock trades up 1.5% at 1.41 euros per share, outperforming the FTSE MIB index .FTMIB, which rises 1%
Source: Reuters (Reporting by Alberto Chiumento)