Italy - Factors to watch on January 11

Enterprise

11/01/2016 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 . 
     
    POLITICS 
    Former Italian prime minister Silvio Berlusconi pledged to 
relaunch his Forza Italia party this year and force out the 
centre-left government of Matteo Renzi, according to an 
interview with daily Il Giornale on Saturday. urn:newsml:reuters.com:*:nL8N14T08W 
     
    ECONOMY 
    OECD releases November composite leading indicator (1100 
GMT). 
    Bank of Italy releases December data on European Central 
Bank funding to Italian banks. 
     
    DEBT 
    Italy's Treasury said on Friday it would sell up to 6.75 
billion euros of BTPs at a mid-month auction on Jan. 
13. urn:newsml:reuters.com:*:nI6N146019 
    The European Commission is ready for a "further engagement" 
with the Italian authorities on the planned reform of the 
banking sector that includes a project to set up a bad bank to 
help its lenders shed non performing loans, Corriere della Sera 
said on Saturday.   
     
    COMPANIES 
     
    SNAM  SRG.MI  
    Italian state lender CDP is considering whether to merge 
Italy's two top gas distributors with joint assets of roughly 8 
billion euros as the sector gears up for major reform, four 
people familiar with the matter said. CDP controls Italy's 
biggest gas distributor Italgas through gas grid operator 
Snam. urn:newsml:reuters.com:*:nL8N14S2V8 
    The gas grid operator appointed former Eni executive Marco 
Alvera as its new chief operating officer, it said on 
Friday. urn:newsml:reuters.com:*:nL8N14S3AW  
     
    ENI  ENI.MI , SAIPEM  SPMI.MI   
    In a phone conversation with Russian President Vladimir 
Putin, Italian Prime Minister Matteo Renzi has asked for Italy's 
involvement in the North Stream II pipeline project, Corriere 
della Sera and Il Sole 24 Ore said on Sunday. This collaboration 
could involve Italian companies winning contracts to help build 
the pipeline or taking a stake in the consortium working on the 
project, the papers said, but added it was early days. Rome did 
not confirm the news when contacted by Reuters.   
    In a letter to Renzi, unions warned about the impact on jobs 
of a potential sale of Eni's chemical business Versalis to U.S. 
investment firm SK Capital, according to Il Messaggero on 
Sunday. A meeting between Eni, the unions and the government is 
scheduled for Tuesday, the paper added.   
     
    INTESA SANPAOLO  ISP.MI  
    The lender said it had raised $1.5 billion on the U.S. 
market through a subordinated tier 2 benchmark bond 
issue. urn:newsml:reuters.com:*:nI6N14601B 
    The bond issues attracted demand for 3.5 billion euros, Il 
Sole 24 Ore said on Sunday, citing the bank's CFO.  
     
    BANCA ETRURIA  PEL.MI , FOUR RESCUED BANKS 
    It cannot be excluded that some of the retail bondholders 
who lost their savings after the rescue of four Italian banks 
may be reimbursed in full, Claudio De Vincenti, an 
undersecretary at the prime minister's office, told Corriere 
della Sera in an interview. He added that more money could be 
allocated to the compensation fund in future beyond the current 
100 million euros. 
    The prosecutors in Rome are verifying whether market 
regulator Consob had provided adequate supervision over the sale 
of subordinated bonds of the four rescued banks, Il Sole 24 Ore 
said on Saturday.  
         
    BRUNELLO CUCINELLI  BCU.MI  
    Board meeting on preliminary FY results. 
     
    ENEL GREEN POWER  EGPW.MI  
    Ordinary and extraordinary shareholders' meeting (0800 GMT). 
     
    ENEL  ENEI.MI  
    Extraordinary shareholders' meeting (1600 GMT). 
     
    TELECOM ITALIA  TLIT.MI  
    Fastweb plans to use Telecom Italia's network to offer 
mobile telephone services instead of that of 3 Italia as it 
seeks to boost its offering, Il Sole 24 Ore said on Saturday.  
    After non-binding offers from Cellnex-F2i, Ei Towers and 
American Tower for a 45 percent stake in Telecom Italia's tower 
unit Inwit, a deal is expected by June, La Stampa said on 
Saturday.  
     
    TOD'S  TOD.MI  
    Proxy adviser Glass Lewis recommended that Tod's 
shareholders vote in favour of a private placement of new shares 
linked to Roger Vivier purchase. urn:newsml:reuters.com:*:nI6N14601A 
     
    ITALCEMENTI  ITAI.MI , ITALMOBILIARE  ITMI.MI   
    Italcementi will realise a capital gain of 140 million euros 
from the sale of its non-cemment assets to Italmobiliare, Il 
Messaggero said on Saturday.  
     
    HERA  HRA.MI  
    Board meeting to approve new five-year industrial plan to 
2019, followed by conference call presentation (1430 GMT). 
     
    TERNA  TRN.MI  
    Expected to release December power consumption on Jan. 11 or 
Jan. 12. 
     
    M&A  
    Britain's Schroders has started talks with Italy's Banca 
Leonardo regarding a possible "alliance", but it could still 
take months to agree on a deal, Il Sole 24 Ore said on Sunday. 
The paper adds that Schroders could buy 70 percent of Banca 
Leonardo, while the remaining 30 pct would remain in the hands 
of current shareholders.  
     
    ((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/JANUARY 11