Italy - Factors to watch on Nov. 23

Fri Nov 23, 2012 2:53am EST

The following factors could affect Italian markets on Friday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy.

EURO ZONE CRISIS

European Council President Herman Van Rompuy adjourned a summit of EU leaders to discuss a new seven-year budget early on Friday to allow time for heads of state and government to study a revised set of proposals, officials said.

Luxembourg's Yves Mersch won a position on the European Central Bank's Executive Board on Friday after months of dispute with European Parliament legislators who objected to his appointment because of a lack of women in the bank's senior ranks.

ITALY CRISIS

Italian Prime Minister Mario Monti cannot be a candidate in next year's parliamentary election as he is a Senator for life, but he could be involved in forming a government afterwards, President Giorgio Napolitano said on Thursday.

* TELECOM ITALIA

Telecom Italia's Brazilian unit Tim Participacoes could hold a board meeting on Dec. 4 to discuss the company's new strategy in the country, Il Sole 24 Ore reported.

* FINMECCANICA

Il Messaggero said CEO Giuseppe Orsi is flying to Munich today for a meeting at Siemens over the offer for AnsaldoEnergia.

BANCA MONTE DEI PASCHI DI SIENA

Italy's government is set to take a bigger stake than originally expected in Banca Monte dei Paschi di Siena after the European Commission demanded changes to a state aid scheme for the country's third biggest lender.

UNICREDIT

UniCredit, Italy's biggest bank in terms of assets, was on Thursday facing court action relating to sales of derivatives products sold to a local administration in northern Italy.

INTESA SANPAOLO

Italy's biggest retail bank Intesa Sanpaolo said that 83 percent of the demand for the 1.25 billion euro benchmark bond it launched on Thursday came from foreign institutional investors.

LUXOTTICA

Italy's Luxottica has bought 40 percent of the unlisted 900-store Salmoiraghi & Vigano chain of eyewear shops, Italian daily La Repubblica reported on Friday, marking Luxottica's entry into Europe's retail market.

ASSICURAZIONI GENERALI, UNIPOL, FONDIARIA SAI

Italy's Antitrust authority on Thursday said it opened an investigation into possible anti-competitive practices by several insurers over providing accident coverage to local public transport agencies.

Non-binding offers for Generali's Swiss unit Banca BSI are expected in January, MF said.

ERG

Italian energy company ERG said on Friday it had decided to withdraw from a project to build a gas storage plant in the north of Italy.

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

For pan-European market data and news, click on codes in brackets: European Equities speed guide................... FTSEurofirst 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurofirst 300 sectors................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Reuters survey of world bourse outlook......... Western European IPO diary.......................... European Asset Allocation........................ Reuters News at a Glance: Equities............... Main currency report:...............................

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