Italy - Factors to watch on January 9

Thu Jan 9, 2014 2:47am EST

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

Italy's government made more changes on Wednesday to its already much-altered system of housing taxes, giving local authorities room to raise rates on more expensive houses to fund deductions for lower income families.

ECONOMY

ISTAT releases Q3 Deficit/GDP ratio.

Rome, Bank of Italy releases December data on European Central Bank's funding to Italian banks.

GOVERNMENT DEBT

The Italian Treasury said on Wednesday it would offer up to 8.25 billion euros of fixed-rate bonds (BTPs) at its regular mid-month auction on January 13.

COMPANIES

SALINI IMPREGILO

The Panama Canal Authority on Wednesday rejected as "impossible" a proposal by Italian builder Salini Impregilo that would make the authority pay an addition $1 billion to keep work on an expansion plan going, and said it has a contingency plan ready.

BANCA MONTE DEI PASCHI DI SIENA, SORIN

Italy's stock market regulator has asked Monte dei Paschi di Siena whether it intends to challenge in court a decision by its top shareholder to delay a rights issue, a source familiar with the matter said on Wednesday.

Monte Paschi said later on Wednesday it had sold its stake in medical technology group Sorin, as it continued planned asset sales to help return to profit and avoid nationalisation. * The president of the banking foundation that owns a majority stake in the lender repeated on Wednesday she hoped Monte dei Paschi's CEO would not resign, Il Sole 24 Ore reported.

* BANCA CARIGE

The mid-sized lender may present an updated business plan in March, daily la Repubblica said, adding the plan would likely include a large capital increase.

* BANCA POPOLARE DI MILANO

Giuseppe Castagna, the former director-general of Intesa Sanpaolo, Italy's biggest commercial bank, is in pole position to become chief executive of the cooperative lender, daily La Stampa reported on Thursday.

* UNICREDIT, INTESA SANPAOLO, BANCO POPOLARE

The Italian government and special commissioner Enrico Bondi want a capital increase at Italian steel maker Ilva to help fund clean-up operations at its troubled Taranto plant, newspapers said on Thursday. The Messaggero said government-appointed Bondi, who runs the Taranto plant, was looking for a cash call in the region of 1.3 billion euros and discussed the issue with some of the creditor banks of Ilva in a meeting on Wednesday.

* ALITALIA

Abu Dhabi airline Etihad, which sources close to the matter say is willing to take a large stake in the Italian carrier, could present an offer as soon as next week, La Repubblica reported. According to the paper, Etihad's offer would be conditional on job cuts of around 2,000 and debt restructuring.

The names of Chairman Roberto Colaninno and CEO Gabriele del Torchio are on the slates for likely re-election at a shareholders meeting scheduled for Monday, papers reported.

BANCA GENERALI

Italian asset manager Banca Generali said on Wednesday its total net inflows had risen 40 percent to 2.26 billion euros in 2013.

VENETO BANCA

The Bank of Italy has asked Veneto Banca to consider a possible merger with another bank to strengthen its finances after conducting an audit that forced the mid-sized lender to increase its provisions against bad loans.

FIAT

The automaker is due to meet with trade unions in Turin.

MEDIOBANCA

Board meeting to review governance.

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FTSE IT allshare index

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Block trades..........

Stories on Italy...... IT-LEN

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