Italy - Factors to watch on Feb. 11

Mon Feb 11, 2013 2:46am EST

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

Outgoing Prime Minister Mario Monti accused his media magnate rival Silvio Berlusconi of trying to buy votes with impossible promises on Sunday as Italy's election campaign entered its last phase.

Financial markets remain keenly focused on Italy's ability to control its public finances and pursue reforms to lift its stagnant economy, European Central Bank governing council member Ignazio Visco said on Saturday.

ITALIAN BANKS

Bank of Italy Governor Ignazio Visco called on Saturday for more powers for bank regulators to step in and dismiss bad managers but defended his institution's oversight of the troubled Monte dei Paschi di Siena.

MONTE PASCHI

The Italian troubled lender is ready to clear the way to receiving 3.9 billion euros ($5.2 billion) in state loans in a "very short time", the bank's Chairman Alessandro Profumo said on Saturday.

The European Commission could ask for a strengthening of the lender's industrial plan, Monte dei Paschi Chief Executive Fabrizio Viola said.

Monte dei Paschi was the only bank in the country to have received special loans from the Bank of Italy as the euro zone debt crisis escalated in late 2011, a central bank senior official said on Saturday.

* The worst is over for Monte Paschi, Viola told La Stampa on Monday, adding only a small number of clients left the bank in the wake of the scandal about opaque detivatives trades.

TELECOM ITALIA, TELECOM ITALIA MEDIA,

TOD'S

Italy's biggest telecom group is determined to sell its television unit Telecom Italia Media and will take a decision at a board meeting scheduled on Feb. 18, Telecom Italia Chairman Franco Bernabe told La Repubblica on Saturday.

Telecom Italia has received only two offers for its television unit, Bernabe said.

Diego Della Valle, head of luxury shoemaker Tod'S, could present an offer to buy La7 television, one of Telecom Italia Media assets, Il Corriere reported on Saturday.

* IMMSI

Massimo Moretti, head of Italy's state railway company Ferrovie dello Stato, has hired Boston Consulting Group as adviser over a possible merger with Alitalia, Corriere Economia said on Monday citing sources close to the matter.

Alitalia chairman Roberto Colaninno will meet shareholders on Monday to discuss a refinancing operation worth around 150 million euros, Il Messaggero reported in an unsourced report.

* ERG

The energy company expects core earnings of more than 420 million euros in 2012, while its debt is expected to fall below 900 million euros, La Repubblica reported on Monday.

* ENEL

Italy's biggest utility signed a five-year 9.4-billion-euro revolving credit facility that will replace a 10-billion-euro revolving credit facility set to expire in April 2015, the company said on Monday.

FIAT

Alfa Romeo will outsell stablemate Fiat in the United States once the sporty brand gets a foothold in its new market and expands to sell larger models, an executive with Fiat-owned Chrysler Group said on Saturday.

SALVATORE FERRAGAMO

Italy's celebrity shoemaker has confirmed a target of an EBITDA margin at 20 percent in 2013, Il Sole 24 Ore reported on Sunday.

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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