Italy - Factors to watch on March 5

Wed Mar 5, 2014 2:58am 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 lost the first member of his government after an undersecretary resigned following allegations he had pressured a local newspaper not to publish a damaging story about his son.

ECONOMY

Italian companies were owed between 75 billion and 80 billion euros ($110 billion) in payment arrears by the country's public administration at the end of 2012, the European Union Industry Commissioner Antonio Tajani said on Tuesday.

Markit, February service Pmi data (0843 GMT).

COMPANIES

FIAT CHRYSLER AUTOMOBILES

The car maker expects to return to double digit margins in Brazil by 2017, Chief Executive Sergio Marchionne said on Tuesday, forecasting a turnaround in its once lucrative market which turned sour last year.

Chrysler said on Tuesday it plans to withdraw its request for government funding to help develop two of its assembly plants in Windsor and Brampton, Ontario.

CREDITO VALTELLINESE

The mid-tier lender plans to raise up to 400 million euros in cash from investors by mid-2014, joining a growing list of Italian banks seeking to strengthen their balance sheets as they come under scrutiny in a sector health check.

* UNIPOLSAI

The insurer expects to formalise an accord by March 15 to sell 1.2 billion euros in premiums to Germany's Allianz, Il Sole 24 Ore reported quoting UnipolSai CEO Carlo Cimbri. Allianz's offer is close to 500 million euros, the paper said citing no sources.

SEAT PAGINE GIALLE

Shareholders at Seat Pagine Gialle gave the go ahead on Tuesday to a plan aimed at relaunching the heavily indebted Italian yellow pages publisher, allowing creditors to take over control of the struggling company.

TELECOM ITALIA MEDIA

The media arm of Telecom Italia said on Tuesday it had posted a narrower net loss of 132 million euros in 2013 after the sale of two loss-making television channels.

CNH

CNH Industrial will begin to report financial results under GAAP accounting standards accepted in the United States for U.S. reporting and investor presentation purposes and will adopt the U.S. dollar as its reporting currency for all financial reporting purposes beginning with its fiscal quarter ending March 31, 2014, it said late on Tuesday.

The following companies report full-year results on Wednesday:

AMPLIFON, BANCA POPOLARE DELL'EMILIA ROMAGNA , SAFILO GROUP, YOOX

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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