Italy - Factors to watch on April 29

Mon Apr 29, 2013 12:00am EDT

Related Topics

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 (*).

ITALY POLITICS

Enrico Letta was sworn in as Italy's new prime minister on Sunday and immediately faced an emergency after an unemployed man shot two police officers outside his office.

The centre-left politician named a coalition government on Saturday, making one of Silvio Berlusconi's closest allies deputy prime minister and ending two months of damaging political stalemate.

Bank of Italy's Fabrizio Saccomanni is the new economy minister. Here the main ministers in Letta's cabinet.

Istat statistics office releases March wage inflation data at 0800 GMT, and April business confidence data at 0900 GMT.

ITALY DEBT

The treasury sells 2.0-3.0 billion euros of five-year BTP fixed-rate bonds, maturing in June 2018, and 2.0-3.0 billion euros of 10-year BTPs, maturing in May 2023. Subscriptions close at 0900 GMT.

Moody's said on Friday it had kept Italy's sovereign debt rating at Baa2 thanks to the country's reasonably low current cost of funding and its primary surplus.

COMPANIES AND STOCK MARKET

Borsa Italiana After Hours trading closed.

FIAT

The carmaker releases its first-quarter results and an update to its 2013 targets.

MONTE DEI PASCHI

Shareholders gather in Siena for their annual meeting.

An Italian judge has rejected an order to seize around 1.8 billion euros of assets from Nomura as part of a probe into suspected fraud involving the troubled lender, legal sources said on Saturday.

Il Sole 24 Ore said on Saturday the bank could put up for sale its foreign branches, 17 in France and 8 in Belgium, which have a book value of 160 million euros. It is not the first time the bank tries to sell these assets, the paper added.

LUXOTTICA

The eyewear maker reports its first-quarter results after the market closes.

SAIPEM

The auditors of the oil services company found failings in the internal control system of the company, according to a letter by the company's internal audit committee published on the company website on Friday.

TELECOM ITALIA

The telecoms operator could float its valuable Italian fixed-line network on the stock market to keep it separate from any possible tie-up with Hutchison Whampoa, an Italian newspaper said in a report on Saturday.

Il Messaggero said on Sunday that Telco, the vehicle controlling 22.4 percent of Telecom Italia and which is formed by Telefonica of Spain and three Italian financial institutions, could be unwinded in September. The newspaper said Telco members, particularly the Italian ones believe it could be better to close down Telco in order to have free hands in any possible extraordinary operations at Telecom Italia.

FINMECCANICA

Italian prosecutors investigating allegations of corruption in the sale of 12 helicopters to India believe their evidence is strong enough to warrant an urgent trial without preliminary proceedings, a legal source with direct knowledge of the situation said.

ENEL

The company said on Friday in documents for its AGM that if it fails with plans to sell 6 billion euros of assets by the end of 2014 it could streamline investments and look at other disposals in order to meet its debt targets.

UNICREDIT

The bank would not register to trade over-the-counter derivatives with U.S. companies on concerns new rules to trade them will come with high costs and burdensome reporting requirements, the Financial Times said on Sunday.

POP MILANO

The bank's shareholders rejected on Saturday a proposal to allow electronic voting at their next meeting in June due to decide on whether to transform the mutual lender in a joint stock company. The possibility of voting from home was seen as unfavourable to the front opposing the governance shake-up plan.

BANCA CARIGE

Moody's said on Saturday it had cut the bank's long-term rating to Ba2, two notches below investment grade, citing concerns it may need additional capital funds, pressure on asset quality, weak earnings and funding challenges. The rating is under review for a further downgrade, it said.

RCS MEDIAGROUP

Shareholders Diego Della Valle and Gilberto Benetton will vote against RCS's capital increase, they said in a letter to the board, ANSA news agency reported on Sunday. The two have a combined stake of 13.7 percent in the troubled publisher.

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:...............................

FILED UNDER: