Italy - Factors to watch on Jan 23

Wed Jan 23, 2013 2:29am EST

The following factors could affect Italian markets on day.

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

EURO ZONE

The euro zone can begin 2013 with more confidence than last year but it is up to governments to carry the bloc forward with reforms while the European Central Bank delivers stable prices, ECB President Mario Draghi said on Tuesday.

ITALY ELECTION

Italy's former prime minister Silvio Berlusconi has dropped allies accused of corruption and mafia connections as election candidates, in a bid to shake off some of the scandal dogging his party.

*MONTE PASCHI DI SIENA

Banca Monte dei Paschi di Siena, Italy's third biggest lender, will book a loss of at least 220 million euros ($293 million) from a three-year-old derivative deal in its 2012 results, a source close to the matter said on Tuesday.

The bank's former chairman, Giuseppe Mussari, resigned late on Monday from his current post as chief of Italy's banking lobby, ABI. Mussari was at the bank when the decision was made to enter into the derivatives trade.

*FINMECCANICA

Italian state-backed financing agency Cassa Depositi e Prestiti is still in talks to buy a stake in Finmeccanica's power engineering unit AnsaldoEnergia, its chief executive told Reuters, denying press reports it had pulled out of the race.

Finmeccanica board meets on Wednesday. It is unlikely to have received any binding offers for AnsaldoEnergia and will therefore not make a final decision, said a person familiar with the situation.

ATLANTIA, GEMINA

Italian motorways operator Atlantia said on Tuesday the study of a potential tie-up with holding Gemina, which controls Rome airport operator ADR, was still at an early stage.

FONDIARIA-SAI, UNIPOL

Italy's investment bank Mediobanca said on Tuesday it had completed the sale of all its shares in Fondiaria-SAI and Unipol following the capital increases involved in the merger of the two insurers.

TOD'S

The Italian luxury shoemaker releases 2012 preliminary sales on Wednesday.

*CAMFIN, PIRELLI

Chairman of the tyre group Marco Tronchetti Provera said on Tuesday that he was not planning any changes to the structure of Camfin, the holding through which he controls Pirelli. Camfin's stock has risen in recent days on market speculation that Tronchetti is preparing a takeover bid.

*FIAT

The automaker won a round in an ongoing court case over whether it can fire 19 workers at its Pomigliano plant near Naples, the union said on Tuesday. Fiat has 120 days to pick which workers will lose their jobs, Corriere reported. The case is part of a long-running arm-wrestling match with Italy's largest union, CGIL, over a more flexible labor contract that has gone into effect at the factory despite protests by CGIL.

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

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