Italy - Factors to watch on Nov 26

Mon Nov 26, 2012 2:52am EST

Related Topics

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 (*).

ITALIAN POLITICS

Pier Luigi Bersani, head of Italy's Democratic Party, will face his main rival Matteo Renzi in a runoff next week to pick the centre-left candidate to fight to succeed Mario Monti as prime minister following a first round of a primary vote.

With almost half the results counted, Bersani led with about 44 percent, ahead of Renzi, the youthful mayor of Florence, who was campaigning as a moderniser, at around 36 percent, according to party officials.

ITALY'S ECONOMY

Italy is expected to start recovering from a deep recession in mid-2013, Economy MInister Vittorio Grilli told La Stampa newspaper on Sunday.

EURO ZONE

Euro zone finance ministers and the International Monetary Fund will seek to unfreeze the second bailout package for Greece on Monday, but they first need to agree if some of the official loans to Athens might eventually be forgiven to cut Greek debt.

Separatists in Spain's Catalonia won regional elections on Sunday but failed to get the resounding mandate they need to push convincingly for a referendum on independence.

EUROPEAN BANKS

European banks have asked the European Commission to postpone the introduction of tougher global bank capital rules by a year to 2014 after U.S. regulators delayed application of the new requirements.

TELECOM ITALIA

Telecom Italia has not taken part in a formal sale process for Vivendi's Brazilian telecom operator GVT but says it is a "strategically interesting asset" that would complement its operations in the Latin American country, Chairman Franco Bernabe told Corriere della Sera on Friday.

PRIVATE EQUITY

Aston Martin stands at the centre of an international takeover battle after Indian motors group Mahindra trumped an Italian bid by buyout group InvestIndustrial for half of the British luxury car maker.

FINMECCANICA

According to Il Sole 24 Ore on Saturday, Germany's Siemens would value Ansaldo Energia 1.3 billion euros, meaning Finmeccanica could pocket around 715 million euros from the sale of its 55 percent stake in the power engineering unit. A counter offer from the strategic fund of state-backed holding CDP is said to be lower.

* GENERALI

Company to hold board meeting on Dec. 4 together with newly-formed group management committee. The executive committee will hold end-year meeting on Dec. 7, according to Corriere della Sera.

According to Affari & Finanza, stakes in Generali that are due to be put on the blocks by Fondiaria-SAI, Mediobanca and the Bank of Italy in the coming months could tempt either IntesaSanpaolo or banking foundation Fondazione Cariplo.

RCS MEDIAGROUP

Board members of the publisher of Corriere della Sera and CEO Pietro Scott Jovane met on Sunday to discuss a new business plan. The publisher aims to boost revenues from its digital business from 5 percent of sales to 20 percent, possibly through acquisitions. In order to cut its debt, the group is assessing whether to sell assets or to boost its capital through a combination of share and bond issues, Corriere reported on Monday.

MEDIASET, BENETTON

The Benetton family's private equity fund 21 Investimenti wants to sell its 51 percent stake in The Space Cinema, a network of movie theatres, and has asked Citi to look for a buyer, Il Messaggero said. Mediaset's Medusa Multisala too could decide to sell its 49 percent holding, it said.

A2A

The regional utility company plans to sell its 25.7 percent stake in Metroweb for around 60 million euros with a deal expected by Christmas, Il Sole 24 Ore said on Sunday. Under the agreement, the strategic fund of state-backed holding Cassa Depositi e Prestiti will take a 46.2 percent stake in the F2i Reti Tlc holding that controls Metroweb.

IPO

The head of infrastructure investment fund F2i, a key shareholder in IPO candidate Milan airport operator SEA, has written a more conciliatory letter to the city of Milan, saying it hopes the final price of the share offer will be satisfactory for all those involved, several newspapers reported on Sunday.

BUZZI UNICEM

The cement maker has raised its holding in its German unit Dyckerhoff to 96.6 percent, paving the way for a possible squeeze-out of minority investors.

POP MILANO

Talks with trade unions on planned lay-offs are complex but the bank is confident a deal will be reached, said the chairman of its supervisory board, Filippo Annunziata.

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:...............................

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.