Italian Stocks - Factors to watch on May 16

Mon May 16, 2011 1:55am EDT

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 MILAN, May 16 (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 (*).
 The bank sees an improvement in 2011 in profitability from
its ordinary operations, compared to 2010, after first quarter
net profit missed expectations, it said on Monday. [ID:nWEA1339]
 The mid-tier lender also is targeting net profit excluding
PPA of about 700 million euros in 2013 and more than 1.1 billion
euros in 2015 under its new business plan. [ID:nBIA16284]
  * The oil major expects the "Libyan problem" to be over in a
year and is not worried about the future, Chief Executive Paolo
Scaroni said in an Financial Times interview.
 State-run Iraqi Drilling Co has started working in the
Zubair oil field under a $250 million contract to drill 23 new
wells in the field, developed by the Italian oil major, the head
of the firm said on Sunday. [ID:nLDE74E0CA]
 The cooperative bank reported on Friday a 22 percent drop in
first-quarter net profit to 60 million euros ($85.73 million).
 Net interest margin fell 6.6 percent and the Core Tier 1
ratio stood at 6.5 percent at the end of March. [ID:nWEA1290]
 The bank said on Friday it paid 246 million euros to buy a
pool of performing and non-performing loans with a nominal value
of 415 million euros sold in the liquidation of Milan-based
investment bank Banca MB.
 The bank has offered to pay 200 million euros to settle
claims in a trial linked to the 2002 collapse of Italian food
group Cirio, judiciary and legal sources told Reuters on Friday.
 The sources said UniCredit had informed a Rome court of its
offer and would submit it formally in a hearing on Monday.
 It would pay 150 million euros in damages and write down
credits towards a unit of the food group for 50 million euros.
 Italy's biggest auto insurer narrowed its net loss in the
first quarter and its board approved a 450 million euros ($643
million) fund-raising to boost its weak capital, it said on
Saturday. [ID:nLDE74D059]
 Fondiaria-SAI has not changed its 2011 targets even though
results so far this are above forecast, CEO Emanuele Erbetta
said cited in Sunday's Il Sole 24 Ore.
 The auto maker hopes to increase its presence in Asia where
this is not satisfactory, Corriere della Sera said citing
comments by Chairman John Elkann.
 Italy's trade union representatives meet with Lactalis's
officials on Monday over the French dairy group's offer to take
over its Italian rival.
 Italy's Intesa Sanpaolo (ISP.MI) is ready to tender its 2.14
percent Parmalat stake in Lactalis's offer and withdraw its list
of proposed directors, Il Messaggero said in an unsourced report
on Saturday. 
 Lactalis has no plans for job cuts at Parmalat, will look at
merging some of its own activities into Parmalat, and sees
Parmalat doing targeted acquisitions, la Repubblica said citing
Lactalis's bid prospectus.
 The board of the power grid operator unanimously confirmed
on Friday current chief executive Flavio Cattaneo in his role
 The balance of power after Milan municipal elections will be
decisive for the organisation of nominees to the companies and
their governance, Il Sole 24 Ore said on Saturday.
 Rhiag-Inter Auto Parts Italia SpA will launch its initial
public offering of shares on Monday through bookbuilding with
institutional investors and sales of a retail tranche in Italy,
it said on Saturday. [ID:nLDE74D03C]
 The Como, north Italy based textile company returned to
operating profit in the first quarter, vice-chairman Antonio
Favrin said cited in Il Sole 24 Ore on Saturday.
 The following companies will report results:
 KERSELF              KRS.MI