Italy - Factors to watch on Oct 26

Fri Oct 26, 2012 2:50am EDT

The following factors could affect Italian markets on Thursday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

ITALIAN DEBT

The Treasury sells up to 4 billion euros of CTZs and BTPeis.

FINMECCANICA

Ratings agency Moody's cut on Thursday the credit strength of Italian state-controlled defence and aerospace group Finmeccanica to one notch above junk to reflect a downgrade of Italy's sovereign debt earlier this year.

LUXOTTICA

Italy's Luxottica, the world's biggest premium eyewear maker, expects a positive 2013 after reporting a healthy rise in profits thanks to strong sales in North America, its main market, and the first signs of recovery in southern Europe.

INTESA SANPAOLO

The president of foundation Compagnia San Paolo, Intesa's biggest shareholder, said Giovanni Bazoli should continue as chairman, il Sole 24 Ore reported. "As far as I'm concerned our chairman musty be him," the paper cited Sergio Chiamparino as saying. Bazoli has not said if he will accept another mandate.

ASSICURAZIONI GENERALI

Generali's Swiss asset BSI is being eyed by Japanese banks like Mitsubishi Bank and Sumitomo, Il Sole 24 Ore said. The Singapore sovereign fund has also been sounded out, il Sole added.

TELECOM ITALIA

The executive chairman Franco Bernabe should present a detailed report on the spinoff of the network to the board on Nov. 9, Il Sole 24 Ore said.

UNICREDIT

Antonio Maria Marocco is in pole position to become chairman of the CTR Foundation which owns over 5 percent of UniCredit, La Stampa said.

BANCA POPOLARE DI MILANO

The Bank of Italy has visited the bank to check the new management is pressing ahead with measures to put the bank on a sounder footing, La Stampa said citing financial sources.

GUCCI

Gucci, the Italian fashion brand owned by French group PPR , said trading had become tougher and competition fierce in China's largest cities.

COMPANIES REPORTING RESULTS

Piaggio, Snam

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Stories on Italy...... IT-LEN

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