Italy - Factors to watch on March 15

Fri Mar 15, 2013 3:50am EDT

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 (*).

ITALY POLITICS

Italy's centre-left alliance made a final bid for an accord with the anti-establishment 5-Star Movement on Thursday as the divided political parties prepared for their first encounter in parliament since feb's deadlocked election.

Italy's parliament convenes on Friday almost three weeks after last month's inconclusive election, with the parties still deadlocked over how to form a government in the euro zone's third largest economy.

France and Italy won support for a slightly more growth-friendly interpretation of European Union budget rules at a summit on Thursday after French President Francois Hollande challenged German-driven fiscal austerity.

EU leaders agreed on Thursday to focus government spending on investment that supports growth - a decision Italy interpreted as a green light to boost public investment spending even if it leads to a higher deficit.

ITALY DEBT

Italy sold the maximum planned amount of 525 million euros ($682 million) of three-year bonds at a supplementary sale on Thursday but drew negligible demand for a 15-year bond.

UNICREDIT

UniCredit, Italy's biggest bank by assets, could announce the sale of its Kazakhstan unit ATF Bank as early as Friday, 3 sources familiar with the matter said.

The bank issues full year results on Friday.

* BANCA POPOLARE MILANO

The cooperative lender is planning a capital increase of 500 million euros before the summer to repay state-backed Tremonti bonds, the weekly il Mondo said. It said the bank consortium include Mediobanca, JP Morgan, Barclays and Deutsche Bank. Mediobanca declined to comment while BPM was not immediately reachable.

ENI

Italian oil firm Eni connected east Africa's gas riches to energy-hungry China on Thursday with the sale of a 20 percent stake in its Mozambique offshore project to Chinese oil company CNPC.

SAIPEM

Eni might consider selling its stake in the oil services group Saipem but there is no hurry, the major's chief executive said on Thursday.

MEDIOBANCA

Board member Tarek Ben Ammar said in an interview with weekly L'Espresso he saw no problems connected with the management of the investment bank.

PARMALAT

The board of Parmalat has approved a May 31 deadline to reach an agreement over the final purchase price of sister company Lactalis American Group (LAG), the Italian dairy group said in a statement on Thursday.

REAL ESTATE

Italian property sales dropped by almost 25 percent last year as the overall economy fell further into recession, with sales in in the last quarter falling at the sharpest rate in eight years, tax authority data showed on Thursday.

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

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