Italy - Factors to watch on February 8

Fri Feb 8, 2013 2:55am EST

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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 (*).

* EU BUDGET

European Union leaders agreed the framework for a new long-term budget on Friday after 15 hours of intense negotiations, laying the ground for 960 billion euros of spending on everything from agriculture to scientific research in the years ahead.

ENI

Milan prosecutors have put Paolo Scaroni, head of Italy's Eni, under investigation in a probe into alleged bribes paid to win contracts in Algeria for Saipem, in which Eni is the largest investor, the company said.

Eni chairman Giuseppe Recchi reiterated the operational independence of Saipem from Eni in an interview in Corriere della Sera. He said there were no grounds for any eventual stepping down of Scaroni.

SAIPEM

The Italian oil service group does not expect any more nasty surprises to undermine its profitability as it seeks to draw a line under a shock profit warning last week that wiped billions off its value and left investors incensed.

TELECOM ITALIA

Telecom Italia said on Friday its adjusted net debt fell to about 28.3 billion euros at the end of 2012, missing its own target of 27.5 billion euros.

The company is in talks with its banks over a 3 billion euros loan deal, banking sources said on Thursday, which could help protect the company against possible future turbulence in debt markets.

The group releases its full-year results and business plan update on Friday.

TELECOM ITALIA MEDIA

Italian broadcaster Telecom Italia Media said on Friday its board had decided to postpone the discussion of its sale process, without indicating a date. * Italian businessman Diego Della Valle is interested in the broadcaster and has put forward the idea of creating a consortium of some 10 businessmen to this end, La Repubblica said.

IMPREGILO

The head of the Gavio group, a leading shareholder of Impregilo, is considering his options with UniCredit and Nomura on whether to respond to a takeover bid for the construction company launched by peer Salini, La Repubblica said.

FIAT INDUSTRIAL

The truck and tractor maker Fiat Industrial has renewed a 2 billion-euro ($2.7 billion), three-year credit revolving credit facility, the company said on Thursday.

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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