Italy - Factors to watch on November 6

Wed Nov 6, 2013 3:00am EST

Related Topics

The following factors could affect Italian markets on Wednesday.

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

POLITICS

Italy's embattled justice minister rejected on Tuesday accusations she had used her influence to get the ailing daughter of a disgraced insurance magnate out of jail, but said she would quit if she lost parliament's support.

ECONOMY AND DEBT

Economy Minister Fabrizio Saccomanni said on Tuesday he expects the European Central Bank will take current euro strength into consideration when it discusses interest rates later this week.

The treasury raised almost 17 billion euros from the first day of sales of a new government bond tied to inflation targetted at small investors, giving it more leeway to reduce its international borrowing for the rest of the year.

The offer will close early, at 1300 GMT on Wednesday.

Markit releases October service Pmi data (0843 GMT). * Economy Minister Fabrizio Saccomanni told Class Cnbc television that Italy's government did not anticipate having to prop up any Italian bank following the ECB's asset quality review, MF reported.

COMPANIES

PIRELLI

The world's fifth-largest tyre maker cut its full-year operating profit forecast on Tuesday as a strong euro diminished revenues from Latin America, the group's largest market. * Pirelli said on Wednesday it is targeting an earnings before interest and tax (EBIT) margin, at more than 15 percent in 2017, up from 13.2 percent in the third quarter. Pirelli aims for a return on investment of around 28 percent in 2017 from an estimated 20 percent for 2013.

The company presents 2013-2017 industrial plan with Chairman Marco Tronchetti Provera (0730 GMT) in London; news conference at 1100 GMT.

RCS MEDIAGROUP

The publisher of influential daily Corriere della Sera has agreed the sale of its headquarters in central Milan to U.S. fund Blackstone for 120 million euros ($161.7 million), it said on Tuesday.

GTECH

The gaming group on Tuesday reported a slight rise in third-quarter earnings, in line with analysts expectations, and reiterated it expects 2013 EBITDA, excluding a one-off legal provision, at the upper end of its guidance.

Including a 30 million euro provision for a machine gaming litigation settlement in Italy, EBITDA fell 11 percent to 219 million euros, GTECH added.

BANCA POPOLARE DI MILANO

The bank's supervisory board meets again on Wednesday to try to ease the appointment of a new CEO after the sudden resignation of Piero Montani.

TELECOM ITALIA

Telecom Italia's second biggest shareholder Marco Fossati meets analysts and investors in London.

* ENEL

The utility is expected to report a nine-month net profit of 2.295 billion euros ($3.09 billion), forecasts by 18 analysts show, according to Il Sole 24 Ore. EBITDA is seen at 12.114 billion euros, while net debt was seen at 44.008 billion, the paper added.

* ALITALIA

The carrier has refused to set up a working group with Air France-KLM to work on a new industrial plan for the group, Il Messaggero said.

ENI

A check-up following gas leaks at Kazakhstan's Kashagan oilfield will take several weeks, MF reported.

GENERALI

Board meets on Q3 results.

BANCA POPOLARE DI SONDRIO

Board meets on Q3 results.

ENEL GREEN POWER

Board meets on Q3 results.

PRYSMIAN

Board meets on Q3 results, followed by conference call (1700 GMT).

YOOX

Board meets on Q3 results, followed by conference call.

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:............................... ($1 = 0.7421 euros)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.