Italy - Factors to watch on July 4

Thu Jul 4, 2013 2:49am EDT

The following factors could affect Italian markets on Thursday.

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

POLITICS

* In 2014 Italy will be allowed to spend an additional amount of at least 6 billion euros to spur growth after the European Commission decided to relax fiscal rules on infrastructure spending, Territorial Cohesion Minister Carlo Trigilia told La Stampa on Thursday.

Italy will consider paying a backlog of tens of billions of euros of overdue bills to companies more quickly in an attempt to stimulate a still-stagnant economy, Economy Minister Fabrizio Saccomanni told parliament on Wednesday.

International Monetary Fund holds news conference in Rome on Thursday at the end of visit to Italy.

ECONOMIC DATA

National statistics institute ISTAT releases Q1 deficit/GDP ratio on Thursday.

COMPANIES

* UNICREDIT

Italy's biggest bank by assets is evaluating a possible partnership between its Credit Management Bank unit and a foreign fund, Il Sole 24 Ore reported on Thursday.

FINMECCANICA

The Italian Treasury has proposed former police chief Gianni De Gennaro as the new chairman for state-controlled defence group Finmeccanica, it said on Wednesday.

Finmeccanica holds a shareholders meeting on Thursday to appoint a new chairman as well as two board members.

TELECOM ITALIA

The Italian phone company holds board meeting on merger with Hutchison Whampoa on Thursday.

The company is not expected to take material steps on the deal because management is focused on a separate project to spin off its fixed-line business, sources said.

FIAT

Chrysler Group LLC said on Wednesday it will recall more than 500,000 vehicles, most of them for possibly malfunctioning active restraint head rests.

Fiat CEO Sergio Marchionne holds news conference in Milan on Thursday to present new '500L Living' and '500L Trekking' models.

BANCA MONTE DEI PASCHI

Fondazione Monte dei Paschi di Siena, main shareholder of the troubled Tuscan lender, sold around 0.17 percent of the bank in June to ensure Fondazione maintains an adequate level of liquidity, it said on Wednesday.

* FERROVIE DELLO STATO

Italy's state railways Ferrovie dello Stato will start on Monday a roadshow which will pave the way to the launch of a 500-million-euro bond, Ferrovie CEO was reported as saying by Il Sole 24 Ore.

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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