Italy - Factors to watch on July 12

Fri Jul 12, 2013 2:51am EDT

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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 (*).

POLITICS

Italian centre-right leader Silvio Berlusconi said on Thursday his People of Freedom party would continue to back Enrico Letta's broad coalition government despite growing party calls to withdraw its support.

Court may rule on associates of former prime minister Silvio Berlusconi in underage prostitution case.

ECONOMY

National statistics institute ISTAT releases June final CPI and HICP data (0800 GMT).

COMPANIES

ENEL

Standard & Poor's cut the rating of the Italian power company Enel to BBB with a stable outlook, citing weakening economic and industry prospects, the ratings agency said on Thursday.

S&P previously had a BBB+ rating on the energy group, with a negative outlook.

SNAM

Standard and Poor's said on Thursday it had cut its credit rating on Italy's gas transport operator to BBB+ from a previous A- after a downgrade of the Italian sovereign rating.

SAFILO

The Italian sunglasses maker renewed a licence to design, produce and distribute eyewear for U.S. accessories group Fossil , the companies said on Thursday.

SAIPEM

Italian oil services group Saipem was found guilty on Thursday of international corruption over Nigerian contracts and slapped with penalties of over 25 million euros.

DADA RCS MEDIAGROUP

The Italian publisher RCS MediaGroup said on Thursday it had sold 54.6 percent in internet company Dada to Orascom TMT Investments. After the sale is completed in August, Orascom will launch a takeover bid for all of Dada, RCS MediaGroup said.

Publisher Urbano Cairo, whose group controls broadcaster La7, bought some of the unexercised rights to RCS Mediagroup's rights issue, MF said.

TELECOM ITALIA

Italian telecommunications regulator AGCOM on Thursday tentatively approved lower fees for rivals to use Telecom Italia's fixed-line network, sparking criticism from the Italian phone company. Telecom Italia said the ruling would reduce its revenues by 110 million euros this year. d

FINMECCANICA

Siemens is no longer interested in buying Finmeccanica's energy unit Ansaldo Energia and the Italian group will now focus on talks with South Korea's Doosan for a sale, MF said without citing sources.

The group is looking to partnerships with foreign investors to help boost growth, several newspapers said, citing the CEO at a conference on Thursday.

* A2A

The regional utility is interested in waste company Waste Italia, Il Sole 24 Ore said. The paper said a Chinese company was also interested in the waste company.

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

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

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