Italy - Factors to watch on Dec 7

Fri Dec 7, 2012 3:00am EST

The following factors could affect Italian markets on Friday.

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

ITALIAN POLITICS

Silvio Berlusconi's party withdrew its support for Prime Minister Mario Monti on Thursday, raising the risk of a snap election, but President Giorgio Napolitano said he would work to avoid a crisis and there was no need for alarm.

TELECOM ITALIA, TELECOM ITALIA MEDIA

The board of Italy's Telecom Italia said on Thursday its management would explore the possibility of selling to state-backed fund Cassa Depositi e Prestiti (CDP) a stake in a company to be set up to manage its fixed-line access network.

At key strategic meeting, the board rejected an expression of interest by Egyptian tycoon Naguib Sawiris and said it would seek better conditions on two offers it has received for its television arm Telecom Italia Media.

* ASSICURAZIONI GENERALI

The 4.5 percent stake in Generali held by the Bank of Italy could end up with state-owned financing company Cassa Depositi e Prestiti, La Stampa said.

IMPREGILO

Italy's biggest builder approved a 2013-2015 business plan on Thursday which envisages revenues rising 10 percent to above 3.3 billion euros ($4.3 billion) and a high dividend payout.

The sale of a 6.5 percent stake in Ecorodovias is nearing, according to an unsourced report in Il Sole 24 Ore on Friday.

FIAT

The carmaker is considering whether to replace Banco Itau with another financial partner in Brazil to provide loan services to dealers and customers, MF newspaper said on Friday without citing its sources.

* EXOR

Exor is sounding out the banks on the idea of converting preference shares into ordinary shares, Il Messaggero said.

LUXURY SECTOR

Shares of Italian fashion house Prada surged as much as 7.9 percent to an all-time high on Friday after the Milan-based company posted forecast-beating quarterly results.

SAFILO

Eyewear maker Safilo said it had renewed a licence to design, produce and distribute optical frames and sunglasses for the brands Max Mara and Max&Co.

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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