Italian Stocks - Factors to watch on Nov 9
MILAN, Nov 9 (Reuters) - 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 (*).
ENI (ENI.MI)
The oil group is studying the possible sale of the strategic TAG pipeline, which transports Russian gas through Austria into Italy, to settle a dispute with Brussels, sources close to the issue said on Friday. [ID:nL681051]
BANCO POPOLARE (BAPO.MI)
The bank is studying a mandatory convertible bond worth more than 500 million euros as an alternative to asset disposals, La Repubblica reported on Saturday, citing reliable leaks. A company spokesman was not reachable for comment.
TELECOM ITALIA (TLIT.MI)
The telecoms group approved on Friday a management reshuffle which has immediate effect. It appointed Oscar Cicchetti head of its network, replacing Stefano Pileri who leaves the group, and Marco Patuano head of domestic market operations. The company said the CFO post left by Patuano goes to Andrea Mangoni.
GENERALI (GASI.MI)
ING raises Generali price target to 20.8 eur from 19.5 euros, rating "buy".
* JP Morgan cuts Generali price target to 18.50 euros from 19.80 euros, rating "neutral".
* BUZZI UNICEM (BZU.MI)
Its German unit Dyckerhoff (DYKG.DE) reported a nine-month
net profit of 96 million euros against 251 million euros a year
earlier. It forecast 2009 net profit of slightly more than 7
percent of sales. [ID:nMAT011866]
IMPREGILO (IPGI.MI)
Italy's biggest construction company cut its 2009 profitability target, citing difficulties at its engineering unit, and posted a 77 percent fall in its nine-month net profit. [ID:nL6108576]
ITALCEMENTI (ITAI.MI)
Net profit at Italy's biggest cement maker fell by nearly half in the first nine months of 2009, but it did find some glimmers of hope in a construction market hit hard by the credit crisis. [ID:nL624638]
PARMALAT (PLT.MI)
The dairy group raised its 2009 core profit target but said nine-month net profit more than halved as it made less from the settlement of legal actions related to its 2003 collapse. [ID:nL6719675]
FIAT (FIA.MI)
Citroen, part of the PSA Peugeot Citroen (PEUP.PA) group,
sees no reason to question commercial vehicle cooperation
agreements with Fiat which are valid until 2017, Citroen MD
Frederic Banzet said in an interview on Saturday with Il
Giornale. However, he said Citroen and Fiat will no longer
cooperate in the multi-purpose vehicle segment.
Fiat will have more than 500 million euros in tax credits linked to car-buying incentives schemes at the end of the year, Fiat CEO Sergio Marchione said on Friday in Zurich. Il Sole 24 Ore said on Sunday the tax agency would allow the Fiat group to compensate those credits by the end of 2009 or the beginning of 2010.
* Nomura raises Fiat price target to 10.60 euros from 9.10 euroes, rating "reduce".
CIR (CIRX.MI)
The holding company is expected to post a 2009 net profit of 110-130 million euros, against 95 million euros in 2008, Il Sole 24 Ore said in its "Letter to the Investor" on Sunday.
TV MARKET
News Corp (NWSA.O) will launch a free digital terrestrial television channel in Italy in December in a move that heats up competition with Mediaset (MS.MI) and state broadcaster RAI. [ID:nN06205925]
Cielo, the new channel, will broadcast on frequencies owned
by Italian media company L'Espresso (ESPI.MI), several
newspapers reported.
PIRELLI (PECI.MI)
The company said it will raise prices on all its tyre products in the Middle East and Africa by 10 percent starting from mid-November. [ID:nMAT011864]
SMALL AND MID CAPS
MARIELLA BURANI MBFG.MI
Creditor banks of the debt-laden luxury goods maker have to decide whether to approve a debt restructuring plan by Nov. 16, its chief executive said in a newspaper interview. [ID:nL8261274]
DEA CAPITAL (DEA.MI)
The company wants to expand into asset management, its CEO Paolo Cerretti said in an interview in Il Sole 24 Ore's PLUS insert on Saturday. The paper said Dea Capital is interested in asset manager Arca, which is owned by 12 cooperative banks.
BASICNET (BCNT.MI)
The leisurewear maker sees higher 2009 revenues and plans to develop its shoe Superga brand in China, its chairman said in an interview on Saturday in weekly Borsa & Finanza.
AICON (BW1.MI)
The yacht maker sees returning to a profit in 2011, weekly Borsa & Finanza said on Saturday, citing the company's chairman.
SAFILO (SFLG.MI)
Auditor PriceWaterHouseCoopers said pricing of the eyewear maker's capital hike is "adequate", Safilo said in a statement on Friday.
COMPANY RESULTS
The following companies will report results:
FONDIARIA-SAI (FOSA.MI)
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