Italy - Factors to watch on Dec. 6

Thu Dec 6, 2012 2:49am EST

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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 (*).

SAIPEM, ENI

The longstanding head of Italy's Saipem resigned on Wednesday after news that the oil services group was being investigated for corruption regarding contracts in Algeria.

TELECOM ITALIA

With a board meeting set for Thursday, Telecom Italia appears to be edging towards a spin-off of its fixed-line network in a move that could raise up to 5 billion euros to cut debt, boost broadband investment and potentially revive its shares.

* TELECOM ITALIA MEDIA

The sale of the Italian broadcaster could be delayed due to the resignation of Giovanni Stella, Chief Executive of La7 srl, one of the units of Telecom Italia Media. According to Il Messaggero, Stella is ready to leave La7 as pressure mounts on the company to cut costs.

BANCA MONTE DEI PASCHI

Standard & Poor's became the second credit ratings agency to cut Italian bank Banca Monte dei Paschi di Siena to 'junk' status on Wednesday, saying planned state aid may not be enough to stop its capital and funding position from worsening.

Italian Economy Minister Vittorio Grilli said on Wednesday he hopes the European Commission will approve the terms on 3.9 billion euros in state loans to Monte Paschi in a few days time.

FINMECCANICA

Political meddling and concern that a foreign owner could cut jobs is hindering the sale of Italian aerospace and defence group Finmeccanica's energy and transport subsidiaries, raising the prospect of a credit downgrade. * The Italian government would welcome a bid for AnsaldoEnergia by an Italian group, perhaps backed by the state-controlled Cassa dei Depositi e Prestiti, Industry Minister Corrado Passera said on Wednesday. * Korean group Doosan has filed a non-binding offer for Finmeccanica's AnsaldoEnergia unit, MF reported on Thursday. Korean bid would be higher than the offer put on the table by German Siemens.

ERG

Italian energy group ERG said on Wednesday it had agreed to buy wind power assets from France's GDF Suez in Italy and Germany to become Italy's largest wind energy producer. * The group is mulling the acquisition of a wind farm in Romania together with its partner Lukoil, ERG CEO Luca Bettonte said in an interview in MF. He said the group wanted to increase its presence abroad but did not rule out an interest for the wind assets of EDF in Italy.

LUXOTTICA, PRADA

Italian eyewear maker Luxottica has renewed its license deal with luxury goods group Prada to the end of 2018, the two companies said on Wednesday.

Prada is scheduled to present Q3 results on Thursday.

BANCA GENERALI

Italian asset manager Banca Generali said on Wednesday its net inflows in November fell 50 percent on the previous month to 51 million euros.

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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