Utilize the input text as a context reference, choose the right relationship between Saipem and Milan from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Among other standouts, Italian oil group Saipem (Amsterdam: QG6.AS - news ) retreated 6.4 percent after cutting its guidance, and that weighed on the Milan stock market which fell 0.3 percent.

Answer: headquarters_location