Italy - Factors to watch on March 22

Fri Mar 22, 2013 3:55am 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 (*).

ITALIAN POLITICS

After completing two days of consultations with political parties, Italy's President Giorgio Napolitano said on Thursday he would announce on Friday his decision on the next steps towards forming a new government.

EURO ZONE CRISIS

Euro zone finance ministers urged Cyprus on Thursday to say how it could reach a deal with international lenders on a bailout that would save it from bankruptcy after the Cypriot parliament rejected the conditions of a euro zone bailout offer on Monday.

The Cypriot government proposed to parliament on Thursday the creation of a "Solidarity Fund" based on revenues from hydrocarbon exploitation, bonds and other assets to help it raise billions of euros to clinch an EU bailout.

UNIPOL

The Italian insurer said on Thursday the 2012 net profit of the new group that will be created from the merger with peer Fondiaria-SAI was 441 million euros.

MEDIASET

Mediaset was sought after by several foreign groups to buy a stake in its digital TV business, deputy chairman Pier Silvio Berlusconi said in an interview with La Stampa, but added "who would enter Italy with today's political instability". He said in 3 years Mediaset will cost 450 million euros less compared to 2011. But he said the group did not see any job cuts.

ASSICURAZIONI GENERALI

Moody's said on Thursday it had confirmed the debt ratings of Assicurazioni Generali following its planned Italian reorganisation. The rating is BAA2 with outlook negative.

* BANCA MONTE DEI PASCHI DI SIENA

The Italian administrative court of appeal is expected to give its ruling on Friday regarding the appeal of consumer group Codacons against the state-backed Monti bonds Monte Paschi used to firm up its balance sheet.

PININFARINA

The Italian automotive design company returned to profit in 2012, its first since 2004, as lower financial charges from a debt restructuring helped its bottom line and its design and engineering business improved.

SALVATORE FERRAGAMO

The Italian star shoemaker forecast a rise in revenues and profits this year after demand from the Asia Pacific area helped lift its 2012 net profit by 30 percent to 106 million euros.

TREVI

Italy's Trevi Group said on Friday its oil drilling division Petreven had renewed contracts with YPF Argentina totaling around $100 million.

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FTSE IT allshare index

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Block trades..........

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

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