Italy - Factors to watch on June 18

Tue Jun 18, 2013 2:42am EDT

The following factors could affect Italian markets on Tuesday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

* EUROZONE CRISIS

European Central Bank President Mario Draghi flagged on Tuesday the central bank's readiness to act as recent signs of stabilisation in the euro zone mean that its interest rates are a more effective tool again.

POLITICS

Italian Prime Minister Enrico Letta insisted on Monday that Rome would respect European Union deficit limits, rejecting a call from Silvio Berlusconi to defy Brussels and ignore the borrowing ceiling to pay for tax cuts promised before the recent election.

REGULATION

The competition authority presents its annual report- 0900 GMT.

COMPANIES

ENI, SAIPEM

A second profit warning in less than 5 months wiped over a quarter from the share price of Italy's Saipem on Monday, leaving Europe's biggest oil industry group worth half what it was at the start of the year.

The head of Italian oil and gas major Eni and the oil minister of Venezuela said on Monday the giant Perla gas field will produce around 300 million cubic metres of gas per day at the end of 2014.

The Eni CEO said on Monday the profit warning issued by Saipem could slow down rather than speed up a possible sale of Eni's stake in the oilfield service company.

A ban imposed on the short selling of Saipem shares by market regulator Consob is in force on Tuesday.

ASSICURAZIONI GENERALI

Portugal's Banco Espirito Santo is vying with Spain's Bankinter to buy the BSI private banking unit of Italian insurer Assicurazioni Generali, a source close to the situation said on Monday.

* ITALIAN BANKS

The ECB will send emissaries to some of Italy's biggest banks in coming days as a first contact with the lenders ahead of the EU-wide plans to introduce a banking union mid-2014, Il Messaggero said.

BANCA MONTE DEI PASCHI DI SIENA

Italy's No. 3 lender Banca Monte dei Paschi di Siena said on Tuesday it had sent a restructuring plan to the European Commission on Monday. 

* FIAT

European car sales across the 27-nation European Union dropped 5.9 percent in May to 1.04 million cars from 1.11 million a year ago, the lowest since May 1993, the Association of European Carmakers said on Tuesday.

* FINMECCANICA

Italy's Industry Minister said on Monday that instead of asset sales the air defence group could look for a partner, several papers reported.

STMICROELECTRONICS

The U.S. Rambus Inc said on Monday it had signed a comprehensive agreement with STMicroelectronics.

IREN

The developer of the regasification terminal being built off the coast of Tuscany expects the first cargo of LNG at the end of August, it said on Monday. The terminal is owned by Germany's E.ON and Italian regional utility Iren.

RCS MEDIAGROUP

Giuseppe Rotelli, the publisher's leading shareholder, does not intend to subscribe to his share of the rights issue under way, Il Messaggero said. The paper added official sources said no final decision had been taken yet.

The company holds a board meeting.

IPO

Italia Independent, the sunglasses firm set up by a descendant of Fiat founder Gianni Agnelli, could be valued at up to 70 million euros including debt in its upcoming stock market debut, a person close to the matter said.

Industrial Stars of Italy holds an analysts presentation on Tuesday ahead of a bourse listing- 0930 GMT.

For more details on today's events please see the full agenda in Italian.

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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