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People are living longer than ever before and this can impact how you plan for retirement

STOCKS NEWS EUROPE-Enel leads FTSE MIB higher on UBS upgrade

Reuters - UK Focus

Shares in indebted utility Enel (Milan: ENEL.MI - news) rise 4.1 percent to lead gainers in Italy's 0.2 percent stronger blue-chip FTSE MIB (Milan: FTSEMIB.MI - news) index after UBS upgrades the stock to "buy" from "neutral" ahead of an expected change in strategy, traders say.

UBS (Berlin: UBRA.BE - news) says Enel trades at a one-third discount to its peers because of its high debt and poor cash flow generation. "We believe this is soon to change as we expect management to shift strategy and focus on FCF (free cash flow)."

The cash flow situation will improve because of a cut in investments, an acceleration of an asset sales plan and greater cost savings, the bank's analysts add in a note.

Reuters messaging rm://stephen.jewkes.thomsonreuters.com@reuters.net