Snam Rete Gas beats forecasts

Italian gas grid operator Snam Rete Gas beat forecasts on its 2010 dividend and operating profit yesterday, sending its shares to a near four-year high. Continental Europe’s biggest regulated gas operator raised its dividend 15 per cent to €0.23 per share after posting a 17 per cent rise in operating profit to €1.86bn euros (£1.6bn), helped by gas assets bought from parent Eni.