Italy - Factors to watch on February 26

Wed Feb 26, 2014 3:00am EST

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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

Italian Prime Minister Matteo Renzi won a final parliamentary vote of confidence on Tuesday after pledging to slash red tape and "revolutionise" the economy.

DEBT

Treasury sells 8.5 billion euros 6-month BOTs maturing on Aug. 29, 2014 (182 days). Subscriptions close at 1000 GMT.

Graziano Delrio, PM Renzi' undersecretary, told Il Sole 24 Ore that government plans to increase taxation on financial investments to fund lower taxes on companies and workers would only affect "big investors."

"Nobody has ever said we will tax government bonds," Delrio was quoted as saying.

COMPANIES

PRIVATE EQUITY

Private equity investors sitting on a record amount of cash are poised to leap into southern Europe after shunning the region for years, hoping to benefit from an economic recovery.

BANCA CARIGE

The Italian mid-sized bank holds a board meeting on Wednesday to discuss a request by its top shareholder to push back a vital 800 million euro ($1.1 billion) cash call to strengthen its balance sheet.

The Bank of Italy has told Carige at a meeting on Tuesday the cash call must be approved by March 31 but its execution can be delayed by a few months, Il Messaggero reported without citing sources.

MONTE DEI PASCHI DI SIENA

The bank has hired law professor Alberto Santa Maria to assess challenging a decision by shareholders led by the Monte dei Paschi foundation to delay a vital cash call to mid-May, Il Messaggero reported without citing sources.

UNICREDIT

The bank is drafting a new business plan to 2018 which the board will discuss on March 11 when it meets to approve full-year results, Il Sole 24 Ore reported without citing sources. UniCredit's strategic committee will discuss the plan at a meeting on Friday, the paper said.

BANCA POPOLARE DI MILANO

The bank's CEO would like Citi and BNP Paribas to join the consortium backing a planned rights issue. The two banks want in as joint bookrunners but joint global coordinators Mediobanca, Barclays, Deutsche Bank and JPMorgan would like them to join as co-bookrunners, Il Messaggero reported wihtout citing sources. A compromise is likely to be found and a pre-underwriting contract could be signed as early as Wednesday, the paper said. * Goldman Sachs has added the bank to its conviction list.

* POPOLARE ETRURIA, BANCA POPOLARE EMILIA ROMAGNA

The data room phase for the sale of the Tuscan bank is due to end on March 15, Il Sole 24 Ore reported citing financial sources. Banca Popolare di Vicenza and BPER have expressed an interest.

TERNA

The Italian power grid operator said on Tuesday it had signed an agreement to acquire the entire capital of Tamini Trasformatori and some of its subsidiaries. The agreement, subject to certain conditions, provides for a transaction value for the sole manufacturing facilities equal to 23.9 million euros, Terna added.

PRYSMIAN

The world's largest cable maker by revenue said on Tuesday it expects currency effects to hit earnings again this year after they contributed to a 4.3 percent drop in net profit in 2013.

CIR

The creditor banks of Italy's Sorgenia could convert some of the debt they hold in the troubled energy company into shares as it battles to stay in business, sources close to the matter said on Tuesday. Sorgenia is part of De Benedetti family's holding group CIR.

SOGEFI

Italian car parts maker Sogefi on Tuesday reported a 25 percent drop in 2013 net profit to 21.1 million euros ($29 million), hit by higher financial charges and restructuring costs.

ENI

Russian state oil company Rosneft awarded its semi-annual April-September jumbo Urals crude tender for delivery from the Baltic Sea ports to Shell, Total and Eni, traders said on Tuesday.

BANCA ALETTI, BANCO POPOLARE

Banca Aletti, part of Banco Popolare, reported a 58.4 percent drop in 2013 net profit to 47.1 million euros, the lender said on Tuesday.

The bank said on Wednesday it had been authorised by the Bank of Italy to merge its Credito Bergamasco and Banca Italease units into Banco Popolare.

ASSET MANAGERS

Assogestioni releases January fund flows data.

INTESA SANPAOLO

CEO Carlo Messina speaks at conference on Italy's industrial system.

ALITALIA

CEO Gabriele del Torchio holds press conference to present airline's new Ulisse club.

INDUSTRIAL STARS OF ITALY

Board meeting on H1 results.

UNIPOL

Offer to swap bond ends.

Board meetings on FY results: Gruppo Editoriale L'Espresso , Credito Bergamasco.

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