Italy - Factors to watch on June 30
30/06/2014 07:54
The following factors could affect Italian markets on Monday.
Reuters has not verified the newspaper reports, and cannot
vouch for their accuracy. New items are marked with (*).
POLITICS
Privatisations will continue but to cut Italy's debt pile a
radical solution is needed, cabinet undersecretary Graziano
Delrio said in an interview in Corriere della Sera on Monday.
Delrio said euro union bonds should be considered.
Further budgetary measures will not be needed this year,
Labour Minister Giuliano Poletti said in an interview in La
Repubblica on Monday. However one billion euros is missing to
fund the temporary lay-off schemes, he added.
ECONOMY
ISTAT releases May producer prices data (0800 GMT); June
flash CPI and HICP data (0900 GMT).
Reuters releases May asset allocation poll (1100 GMT).
COMPANIES
Conference on TV with Mediaset MS.MI Chairman Fedele
Confalonieri, Gruppo Editoriale L'Espresso ESPI.MI Carlo De
Benedetti, Sky Italian unit CEO Andrea Zappia (1545 GMT).
BANCA MONTE DEI PASCHI DI SIENA BMPS.MI
Italy's Banca Monte dei Paschi di Siena said on Friday it
had raised 4.99 billion euros ($6.81 billion) through a sale of
new shares, allowing it to repay much of its state aid and
increasing chances it could pass an EU review of bank
assets. ID:nL6N0P856M
Beauport Financial may be among those who have invested in
the rights issue, Il Giornale said, citing rumours.
Ratings agency Moody's has upgraded to "Baa3" from "Ba1" the
rating on the residential covered bonds issued by Banca Monte
dei Paschi, Moody's said in a statement on Friday.
BANCO POPOLARE BAPO.MI
Italy's fourth-biggest lender Banco Popolare will look at
merger opportunities once it has passed a Europe-wide health
check of the sector, and has cancelled the sale of its bad debt
unit for now, its CEO told daily Il Sole 24 Ore in an interview.
The bank later confirmed all the comments made by CEO Pier
Francesco Saviotti in the interview published on
Sunday. ID:nL6N0PA0JJ
BANCA ETRURIA PEL.MI , BANCA POPOLARE DI MILANO PMII.MI
Italian mid-sized lender Banca Etruria has approached Banca
Popolare di Milano regarding a possible merger, Il Messaggero
said on Saturday in an unsourced report. Banca Etruria could not
immediately be reached for comment, while Pop Milano declined to
comment. However, a source close to the banks said there were no
talks between the two lenders.
UNICREDIT CRDI.MI
UniCredit has reached a deal with unions to cut 2,400 jobs,
the sector's main union FABI said on Saturday, in the first
stage of workforce reductions foreseen in the bank's 2013-18
restructuring plan. ID:nL6N0P90FX
CVC Capital Partners Ltd CVC.N is considering making an
offer to buy as much as 50 percent of Pioneer Investments, the
asset management unit of UniCredit, Il Sole 24 Ore said on
Saturday, citing a report by Sky News.
FINCANTIERI
The shipmaker said on Saturday it had priced its initial
public offering at the bottom of its price range at 0.78 euros
per share and cut the size of the offering by a
third. ID:nL6N0P9063
ENI ENI.MI , ENEL ENEI.MI , TERNA TRN.MI
Selling down the state's stakes in Eni, Enel and Terna below
30 percent is not a taboo, the Economy vice minister Enrico
Morando said in La Stampa.
ENEL ENEI.MI
The energy group could be looking at reorganising its Latin
American activities by stripping off the South American
operations of Enersis from Endesa and transferring them to the
holding level, a UBS report said. Enel could then turn Endesa
into a large Iberian yield-co and sell a stake, the bank added.
ITALCEMENTI ITAI.MI
Italy's Italcementi, the world's fifth-largest cement
producer, said on Friday its 500 million euro ($682 million)
capital increase was 99.4 percent subscribed. ID:nL6N0P84ZX
FIAT CHRYSLER FIA.MI
Mitsubishi Motors Corp will be supplying its
made-in-Thailand Attrage sedan to Chrysler for sale in Mexico,
an individual knowledgeable about the matter said on
Saturday. ID:nL4N0P9038
Sergio Marchionne needs a New York stock market listing to
bring in the investors required to fund future growth at Fiat
Chrysler, but a lukewarm response to the chief executive's most
recent Wall Street launch suggests he has a bumpy journey
ahead. ID:nL6N0P763Y
CIR CIRX.MI
The group is looking at the possibility of buying back
bonds, CorriereEconomia said on Monday, adding that no decision
had yet been taken.
GENERALI GASI.MI
UBS UBSN.VX has cut its stake in the insurer to 1.798
percent from 2.162 percent on June 19, a release from market
regulator Consob showed on Friday.
GTECH GTCH.MI
Three consortiums, including one composed of Czech
investment groups KKCG and Emma Capital, and Italian gaming
company GTECH SpA, have filed a bid for a licence to operate
Turkey's national lottery. ID:nL6N0P85GQ
AMPLIFON AMPF.MI
Italian hearing aid company Amplifon said on Friday it was
interested in buying smaller rival Audika DIKA.PA , but the
French company said it was not for sale. ID:nL6N0P84J3
PRYSMIAN PRY.MI
The cable maker said on Friday it had signed a 1 billion
euro long-term revolving credit facility with a pool of primary
domestic and international banks. The funding will be used for
general corporate purposes and working capital, including a
refinancing of existing debt facilities.
AEROPORTO MARCONI DI BOLOGNA
The airport operator is eyeing a stock market listing, at
the latest by the spring of 2015, Enrico Postacchini, the
chairman of the airport's operator Sab was quoted by Il Sole 24
Ore on Saturday as saying.
ALITALIA
The European Commission has asked the airline to supply by
July 22 further details in regards to the government bringing in
the postal service last year to help rescue the struggling
carrier, the MF and Il Messaggero said on Saturday.
The government and Alitalia and looking at all options to
limit the job cuts foreseen at the airline as part of ongoing
talks for a tie-up with Abu Dhabi's Etihad Airways, various
papers said. Those could include outsourcing some services and
using temporary layoff schemes.
The next meeting with unions to discuss job cuts has been
fixed for Wednesday, July 2, various papers said.
Banca Monte dei Paschi di Siena BMPS.MI , one of Alitalia's
creditors, wants the airline to repay factoring debt facilities,
which amount to 70 million euros, Il Messaggero said on
Saturday. For all of Alitalia's creditors, debt factoring totals
around 235 million euros, the paper added.
ALBA PRIVATE EQUITY ALPE.MI
Ex-dividend of 0.096 euros per share.
B&C SPEAKERS 37B.MI
Shareholders' meeting (1000 GMT).
Annual general meetings: COFIDE COFI.MI (1300 GMT),
METHORIOS CAPITAL MTHC.MI (0600 GMT).
Annual and extraordinary shareholders' meetings: CIR
CIRX.MI (0800 GMT), PMS GROUP PMSG.MI (0700 GMT).
((Milan newsroom, +39 02 6612 9507, fax +39 02 801149,
milan.newsroom@news.reuters.com))
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage)............ .PG.MI
20 biggest losers (in percentage)............. .PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Block trades.......... .BLK.MI
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide................... EUR/EQUITY
FTSEurofirst 300 index.............................. .FTEU3
DJ STOXX index...................................... .STOXX
Top 10 STOXX sectors........................... .PGL.STOXXS
Top 10 EUROSTOXX sectors...................... .PGL.STOXXES
Top 10 Eurofirst 300 sectors................... .PGL.FTEU3S
Top 25 European pct gainers....................... .PG.PEUR
Top 25 European pct losers........................ .PL.PEUR
Main stock markets:
Dow Jones............... .DJI Wall Street report ..... .N
Nikkei 225............. .N225 Tokyo report............ .T
FTSE 100............... .FTSE London report........... .L
Xetra DAX............. .GDAXI Frankfurt market stories .F
CAC-40................. .FCHI Paris market stories... .PA
World Indices..................................... 0#.INDEX
Reuters survey of world bourse outlook......... EQUITYPOLL1
Western European IPO diary.......................... WEUIPO
European Asset Allocation........................ EUR/ASSET
Reuters News at a Glance: Equities............... TOP/EQE
Main currency report:............................... FRX/
Keywords: ITALY FACTORS/JUNE 30