Italy - Factors to watch on April 11

Digital Magics SpA

11/04/2016 05:00

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 (*). 
     
    For a complete list of diary events in Italy please click on 
 IT/DIA . 
     
    GENERAL 
    Italian Prime Minister Matteo Renzi meets Alibaba  BABA.N  
founder Jack Ma at Vinitaly wine fair in Verona (1400 GMT). 
    Renzi's party has slipped in voters' estimation in recent 
weeks since a minister quit in connection with an 
influence-peddling probe, a poll indicated on Sunday. 
 urn:newsml:reuters.com:*:nL5N17D0J2 
     
    EUROPEAN CENTRAL BANK 
    The ECB still has weapons to fight too-low inflation in the 
euro zone and will use them if necessary, Governing Council 
member François Villeroy de Galhau said in an interview 
published on Saturday.  urn:newsml:reuters.com:*:nL5N17C05Z 
         
    ECONOMY 
    ISTAT releases February industrial output (0800 GMT). 
    Bank of Italy releases February data on bank lending and 
domestic government bond holdings at Italy-based banks. 
    OECD releases February composite leading indicator (1000 
GMT).     
     
    DEBT 
    Italy's Treasury said it would sell between 6.75-8.25 
billion euros over four bonds at an auction on April 
13. urn:newsml:reuters.com:*:nI6N17701V 
     
    COMPANIES     
    MEDIASET  MS.MI  
    French media group Vivendi agreed on Friday to buy the 
pay-TV operation of Italian broadcaster Mediaset, completing a 
major step in billionaire businessman Vincent Bollore's plan to 
build a southern European content and video-on-demand 
powerhouse. urn:newsml:reuters.com:*:nL5N17B1QC     
    Who wins when three billionaires lock horns? A 720 million 
euro deal in Italy's pay-TV sector stars three big moguls: 
Vivendi's Vincent Bollore, Sky's Rupert Murdoch and Mediaset's 
Silvio Berlusconi. Italy's former prime minister may have come 
off best.  urn:newsml:reuters.com:*:nL2N17B0Z1 
     
    BANKS 
    Italy's largest banks will meet the Treasury and central 
bank on Monday to thrash out a plan to set up a state-backed 
fund to buy bad loans and plug capital shortfalls at its ailing 
banks, five sources familiar with the matter said on Sunday. 
 urn:newsml:reuters.com:*:nL5N17D0AD 
    Italian banks can deal over the next two to three years with 
a pile of bad loans that grew during a deep recession, the 
country's economy minister said, adding that the situation of 
their balance sheets was "difficult but manageable". I6N0XZ00H   
    An existing asset manager could be used to set up the fund 
Italy wants to create to help banks raise capital, several 
newspapers said on Saturday and Sunday. The fund's initial size 
could be of 2-3 billion euros and eventually rise to 4-5 billion 
euros, Il Sole 24 Ore said.  
    La Stampa and Corriere della Sera said the fund could be 
worth up to 7 billion euros, and Il Messaggero put the figure at 
6 billion euros. 
    Neither Spain's Santander  SAN MC> nor France's BNP Paribas 
 BNPP.PA  have any plans to invest in Italian banks, their  
chief executives said on Friday.  urn:newsml:reuters.com:*:nI6N0XZ00K  urn:newsml:reuters.com:*:nI6N0XZ00J 
    Officials from the Treasury, Justice Ministry and Bank of 
Italy are likely to meet on April 12 to set out the terms of a 
decree aimed at cutting the length of time it takes creditors to 
recuperate outstanding loans in cases of bankruptcy, Il 
Messaggero reported on Saturday.  
    The decree would also aim to compensate people who lost 
their savings when the government bailed out four small banks 
last year, and tax arrangements for transferring assets from the 
four failed banks to a new "good bank", Il Messaggero said. 
    Il Sole said such a decree would probably be approved on 
April 18. 
     
    UNICREDIT  CRDI.MI  
    Unicredit has found no evidence of any connection with 
Panama or the law firm Mossack Fonseca, Chief Executive Federico 
Ghizzoni was quoted as saying on Sunday, after 11.5 million 
leaked documents from the firm showed details of hundreds of 
thousands of companies set up in offshore tax havens. 
    "We've searched through our documents back to 2009 and have 
not found any connection to Panama or the firm Mossack Fonseca," 
Ghizzoni was quoted as saying by Austrian newspaper Der 
Standard.    
     
    UNICREDIT  CRDI.MI , BANCA POPOLARE DI VICENZA  IPO-BPVS.MI  
    UniCredit is aware of a proposal by U.S.-based Fortress 
Investment Group to buy into a 1.8 billion euro share issue the 
Italian bank is guaranteeing at smaller rival Popolare di 
Vicenza, but has no say over it. urn:newsml:reuters.com:*:nL5N17B3KX 
    ANSA reported on Saturday that Fortress's offer was no 
longer on the table, citing sources close to the matter, without 
saying what had happened to the bid.  
     
    UNICREDIT, INTESA SANPAOLO  ISP.MI , UBI BANCA  UBI.MI  
    UniCredit could contribute around 500 million euros to the 
fund Italy is trying to set up to help banks' recapitalistions, 
Il Sole 24 Ore and Il Messaggero said on Saturday. Intesa 
Sanpaolo  ISP.MI  could put 700-800 million euros in it and UBI 
Banca  UBI.MI  300 million euros.  
     
    ENEL  ENEI.MI   
    Enel could invest up to 4 billion euros in plans to build a 
national high-speed fibre-optic broadband network, Il Sole 24 
Ore reported on Sunday.  
             
    RCS MEDIAGROUP  RCSM.MI , CAIRO COMMUNICATION  CAI.MI , 
MEDIOBANCA  MDBI.MI    
    Italian media group Cairo Communication said on Friday it 
had launched a share-swap offer on the entire share capital of 
publisher RCS MediaGroup in a bid to create a large multimedia 
and publishing house.  L5N17B50S   
    Some RCS shareholders including Mediobanca, Unipol, Tod's 
owner Diego della Valle and Pirelli are not keen on taking up 
the offer, several papers reported on Sunday. The company could 
be headed for a capital hike, Il Sole 24 Ore said. La Repubblica 
said the offer price could be raised. 
     
    VENETO BANCA  IPO-VENE.MI  
    The board of the Italian bank on Friday gave management a 
mandate to consider pursuing out-of-court settlements of legal 
disputes relating to shares and bonds sold by the lender. 
     
    UNIPOLSAI  US.MI   
    Unipol is working on raising its stake in Banca Popolare 
dell'Emilia Romagna to up to 5 percent, Il Sole 24 Ore reported 
on Sunday. Unipol declined to comment when contacted by Reuters. 
     
    BANCA POPOLARE DI SPOLETO  BPSP.MI  
    Trades ex-dividend of 0.0122 euro per ordinary share. 
     
    DIGITAL MAGICS  DMG.MI  
    Extraordinary shareholders' meeting (1000 GMT). 
     
    PRADA  1913.HK  
    Conference call on FY results (1500 GMT). 
     
    SINTESI  SII.MI  
    Board meeting on 2015 H1, 2015 Q3 and 2015 FY results (1530 
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/APRIL 11