Italy - Factors to watch on February 13

Thu Feb 13, 2014 2:58am 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

Italian Prime Minister Enrico Letta defied pressure to resign on Wednesday to let centre-left leader Matteo Renzi form a government, saying anyone who wanted him out must say so openly and outline what they would do in his place.

DEBT

Treasury sells 6.0-7.5 billion euros of Dec. 2016, May 2021 and Sept. 2044 BTP bonds.

COMPANIES * ENI

The Italian oil and gas group said on Thursday its fourth-quarter adjusted operating profit fell by 29 percent to 3.52 billion euros ($4.78 billion), hit by lower production in Libya and Nigeria and a stronger euro against the dollar.

Eni presents its strategy at 1400 GMT and holds news conference in London with Chairman Giuseppe Recchi and CEO Paolo Scaroni at 1620 GMT.

Eni said on Thursday it had made an important discovery in the Marine XII Block offshore Congo.

* INTESA SANPAOLO, UNICREDIT

The two banks are studying two options to offload some of their non-performing loans in a project involving also U.S. fund KKR, Il Sole 24 Ore reported citing financial sources. Besides the creation of a newco where bad debts sold by the banks for several billion euros would be turned into equity, the three are also considering a vehicle to securitise bad debts in which KKR would take a 10 percent stake.

* BANCA POPOLARE DI MILANO

The cooperative bank's CEO told union representatives on Wednesday that he aims to launch a planned 500 million euro cash call by the end of March, Il Sole 24 Ore reported. * BANCA POPOLARE EMILIA ROMAGNA

The Italian cooperative bank said on Thursday it had slashed its target for 2014 net income to take into account a worsened economic scenario.

SALINI IMPREGILO

The Panama Canal on Wednesday set a target of no more than a week to reach a deal to jump-start a stalled multibillion-dollar expansion of the waterway amid a cost row, but its administrator said an agreement was falling into place.

PRELIOS, IMMOFINANZ

Austrian property group Immofinanz said it had agreed to buy 18,000 German homes for about 892 million euros ($1.21 billion), paving the way for a spin-off of its Buwog unit.

TELECOM ITALIA, TIM PARTICIPACOES

The profits of Brazilian telecommunications companies probably fell in the fourth quarter as stagnant sales and higher costs have brought growth almost to a standstill, feeding expectations of consolidation in the wireless market.

* INDESIT

Nine suitors, including Whirlpool, Bosch, China's Haier and Global Midea, Electrolux, are interested in the Italian white goods maker, Il Sole 24 Ore said citing financial sources.

* ENEL

The utility plans to launch a dollar-denominated hybrid bond in the third quarter for a nominal value of 800 million euros, Daily MF reported.

* IPO

Poste Italiane, of which the state plans to sell 40 percent in a privatisation push, is expected to post flat full-year net profit in 2013,CEO Massimo Sarmi was quoted as saying by the Financial Times.

* MAIRE TECNIMONT

The Italian engineering company said on Thursday it started selling equity-linked bonds for up to 100 million euros.

* TREVI GROUP

The group Drillmec's group has been awarded onshore and offshore drilling rigs contracts worth $135 million.

PRADA

The Italian fashion house said on Wednesday sales growth slowed to 9 percent in the year ended Jan. 31 from 29 percent in the previous year, hurt by a weak European market.

FIAT, CHRYSLER

Finance Minister Jim Flaherty, freshly armed with C$500 million ($455 million) to subsidize Canada's auto sector, signalled on Wednesday the federal government might offer substantial cash to keep Chrysler Group from closing an Ontario minivan plant.

ERG

Leaders of six green energy firms, including ERG, challenged big utilities on Wednesday by advocating a tougher EU renewable goal to save billions in fossil fuel imports and create hundreds of thousands of jobs.

BANCO POPOLARE

Italy's fourth biggest bank said on Wednesday a consortium of 21 banks and brokers will underwrite its upcoming capital increase of up to 1.5 billion euros.

LA DORIA

Holds board meeting on preliminary FY results.

MEDIOBANCA

Holds board meeting.

SCREEN SERVICE

Holds board meeting on FY (financial year closed on Sept. 30, 2013) and Q1 results.

ESPRINET, RENO DE MEDICI

Board meetings on Q4 results

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FTSE IT allshare index

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