Italy - Factors to watch on October 31

Wed Oct 31, 2012 3:52am EDT

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The following factors could affect Italian markets on Wednesday.

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

ITALY CRISIS

The Italian economy will start to grow again in the second quarter of next year, Treasury minister Vittorio Grilli said on Wednesday.

FIAT

Fiat told trade unions Tuesday it will resume a stalled investment plan for its five idled Italian factories, beginning with a new SUV made at its Melfi plant at the end of 2013, a union leader said after the meeting.

Sergio Marchionne, chief executive of both Fiat SpA and Chrysler Group LLC, said he wants to achieve "unification" of the two automakers by 2015.

Fiat sharply cut its group targets for the next two years on Tuesday, saying languishing sales in austerity-hit Europe may mean its trading profit in 2014 is a third lower than it targeted two years ago.

FIAT INDUSTRIAL

The group will report Q3 results on Wednesday

LUXOTTICA

Italy's Luxottica, the world's biggest premium eyewear maker, is close to buying French eyewear designer Alain Mikli, business daily Il Sole 24 Ore said on Wednesday.

CIR, GRUPPO EDITORIALE L'ESPRESSO

Rodolfo De Benedetti, set to become executive chairman of CIR, said he has never thought of selling publishing unit L'Espresso. He said he has no intention to sell energy unit Sorgenia.

PRYSMIAN

Italy's Prysmian, the world's largest cable maker, won a 400 million euro contract to supply part of a submarine power link between Italy and Montenegro, the company said on Tuesday.

TELECOM ITALIA

Telecom's Brazilian unit TIM ParticipaƧoes, Brazil's second-largest wireless phone company, posted flat third-quarter profit on Tuesday, as a subscriber base bigger than a year ago helped make up for a recent slowdown in sales and costs associated with growing regulatory pressure.

IMPREGILO

The government will discuss cancellation of the Messina bridge project on Wednesday and compensation for its not going ahead. Impregilo is in the consortium to build the bridge.

UNIPOL

Moody's confirmed on Tuesday Unipol Gruppo Finanziario's senior Ba2 rating with outlook negative. 

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

20 biggest losers (in percentage).............

FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

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

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